Latest RevRec and IDC survey reveals more than half of all public companies have modified revenue recognition policies to comply with Sarbox.
One of the primary goals of Sarbanes-Oxley (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”, as shown in Figure 1.
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