After researching the industry for the public company you have selected for your final project, review the footnotes accompanying the financial statements. Find all relevant footnote disclosures that discuss the firm’s revenue recognition policies and strategies. You may also find relevant information about revenue recognition in other sections of the annual report. Using the information provided, as well as your knowledge and research of the challenges of revenue recognition rules, discuss the challenges and risks associated with auditing this section of your firm’s financial statements.
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