Now is the time to make implementation efforts a priority.
Successful implementations require adequate time dedicated to developing new or changed internal controls, informative transition disclosures, new required disclosures, and well-reasoned accounting judgments.
Audit committees play a critical role in the adoption process.
Report contents
Applicability
Key facts and impacts
The time is now
Internal controls over financial reporting
SAB 74 disclosures
New disclosures
Reasonable judgment and SEC pre-filing consultations