Corporate Expense Rules Echo Lease Rewrite Woes, EY Partner Says

Companies should review their data systems and compare notes with industry peers as the deadline for updated corporate expense reporting nears, an EY partner said.

Data hurdles related to detailing amounts spent on items like staff salaries and inventory purchases are similar to the challenges accounting teams faced when implementing the 2016 overhaul of lease reporting rules, Mark Mahar, a partner in EY’s professional practice, said Wednesday at an American Institute of CPAs conference in Washington.

“As we talk to companies and industry groups, I ...