The converged standard on revenue recognition, ASC 606/IFRS 15, has raised the visibility of loyalty programs to company stakeholders by generating higher program liabilities, more strenuous reporting disclosures, and a new duty to clearly articulate the drivers of changes in estimates that flow through earnings.
While operating under the new standard, loyalty program owners are encountering a number of challenges in several key areas, including:
Actuarial Managing Director, PwC US
Actuarial Services Director, PwC US
Accounting Services Group Senior Manager, PwC US
Actuarial Services Senior Manager, PwC US