Engineering change: Potential impact of revenue recognition on the engineering & construction industry

On 19 June comments to the joint FASB/IASB standard setters closed. As many of you will know the draft discussion paper has potentially significant effects for many of our engineering & construction clients if it were to become a Standard in its present form and replace IAS 11. We have therefore prepared a paper which outlines:

  • How a new revenue recognition standard could affect the engineering and construction industry
  • The PwC view
  • How the industry has reacted to the proposals
  • What happens next