CAQ issues report on challenges of complex accounting
Released 16 March 2017
The Center for Audit Quality (CAQ) of the American Institute of Certified Public Accountants (AICPA) has published a report, Addressing Challenges for Highly Subjective and Complex Accounting Areas. The report is a compilation of best practice recommendations from company executives, corporate directors and auditors on ways to help deter fraud and enhance financial reporting.
The insights in the report show how improved accounting policies and internal controls related to highly subjective and complex accounting areas are key for stemming financial reporting fraud and reducing the number of restatements. The report also contains a number of recommendations revenue recognition accounting policies and internal control over financial reporting.
More details can be found here.