The Board of the International Organization of Securities Commissions ("IOSCO") stressed the importance of implementation and disclosure related to new accounting standards in a statement concerning revenue, financial instruments, and leases. IOSCO said the new standards "are expected to significantly affect the financial statements of many issuers globally, given the breadth of their applicability."
The statement also provides a series of matters for issuers, their audit committees and auditors to consider as issuers adopt the new standards and auditors perform related audit procedures.
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