The new lease accounting standard that took effect for public companies in 2019 required more time and resources than expected. Now private companies are on the clock for a 2021 implementation. On the latest Consumer Speaks podcast, Rich Paul, Deloitte & Touche LLP’s US Audit & Assurance Consumer industry leader, speaks with Deloitte & Touche LLP Audit & Assurance Partner Jeanne McGovern and Audit & Assurance Senior Manager Lauren Pesa. They discuss five lessons learned from public company adoption of the standard, as well as considerations for private companies in the consumer industry.