RevenueRecognition.com Survey Reveals More than Half of All Public Companies Have Modified Revenue Recognition Policies to Comply with Sarbox
One of the primary goals of the Sarbanes-Oxley Act (Sarbox) is to ensure that companies are reporting accurate revenue numbers. Consequently, revenue recognition policies have been under particular scrutiny. A new survey of 400 public and private companies found that more than half (55%) of all public companies have changed revenue recognition policies as a result of Sarbox, and that many of these changes were "moderate" to "significant." In addition, revenue recognition was identified as one of the top three ongoing control risks and remediation challenges.
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