CAQ issues publication on revenue for audit committees
The Center for Audit Quality (CAQ) of the American Institute of Certified Public Accountants (AICPA) has released a publication ‘Preparing for the New Revenue Recognition Standard: A Tool for Audit Committees’.
The publication is a tool to help audit committees assess a company’s implementation of the new revenue recognition standard. It is organised into four sections:
- Understanding the New Revenue Recognition Standard – What Is It?
- Evaluating the Company’s Impact Assessment – How Will Revenue Recognition Change?
- Evaluating the Implementation Project Plan – How Do We Need to Prepare?
- Other Implementation Considerations – What Else Do We Need to Consider?
In addition to key questions for audit committees, the tool offers a list of resources on revenue recognition.
Please click for access to the publication on the CAQ’s website.