Protiviti’s January 7 webinar, The 2016 Audit Committee Agenda, drew a large and diverse audience and a lot of interesting and relevant questions were asked. In this final article of a four-part series, Jim DeLoach answers some of the questions that couldn't be addressed live due to time.
Questions addressed in this article include: The Financial Accounting Standards Board (FASB) has announced two major changes in Generally Accepted Accounting Principles (GAAP)—revenue recognition and lease accounting. How can companies make both of these changes concurrently? What value do you think internal audit can add to the revenue recognition transition process?