May 9, 2016 — At the 2016 Baruch College Financial Reporting Conference in New York City last week, Wesley Bricker, deputy chief accountant in the SEC’s Office of the Chief Accountant (OCA), discussed transition issues related to the FASB’s new revenue standard (ASU 2014-091). He reiterated his support for the TRG’s2 implementation activities, particularly given the significant judgment entities must use in applying the new revenue standard, and noted that the OCA continues to “encourage management, auditors, and others to refer interpretive issues to the TRG.”
This publication is provided as an information service by Deloitte’s National Office and may contain summaries of Deloitte’s observations at meetings or other events. Such summaries are believed to be accurate; however, no representation can be made that it is complete or without error. Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication.