Webcast: Auditing Revenue Under the New Revenue Standard
Revenue involves significant risks that warrant special consideration during audits. The Financial Accounting Standards Board ("FASB") has issued a new standard-"Revenue from Contracts with Customers" that replaces most industry-specific revenue recognition requirements in U.S. GAAP. A new principles-based, five-step revenue recognition model now applies. Recent disclosures of qualitative and quantitative information, significant judgments, and changes in judgments are also required. New systems, processes, and controls may be needed. Poor design or implementation may pose heightened risks of material misstatement, including those due to fraud.
ASCPA Live Online Webcast
Phoenix, AZ 85034-6617