EY Partner Says Credit Impairment Standard Will Impact How REITs Prepare Statements

Serena Wolfe, partner at EY, participated in a video interview at REITwise 2018, Nareit’s Law, Accounting & Finance Conference in Hollywood, Florida.

Wolfe noted that as Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) convergence projects near completion, REITs are faced with implementing standards relating to revenue recognition, leases and credit impairment.

According to Wolfe, the credit impairment standard will have an impact on how REITs prepare their financial statements.