Mary Ellen Biery

Boards, shareholders, and auditors alike will want to know CECL’s impact.

CECL’s impact on a financial institution is all about the portfolio makeup.

All eyes will be on the large SEC registrants in January as they become the first financial institutions to adopt the current expected credit loss model, or CECL.

Data has always been the cornerstone of an accurate and compliant allowance for loan and lease losses (ALLL), and it will remain critical under the current expected credit loss model, or CECL.

The financial institution expects to increase reserves by about $5 billion for implementation of the current expected credit loss standard.

The Financial Accounting Standards Board has made two decisions that will limit changes to the CECL standard ahead of implementation.

Bankers preparing for the Financial Accounting Standards Board’s new current expected credit loss model have many questions about implementation.

Accountants serving U.S. banks and credit unions are bracing for the impact that the current expected credit loss model may have on the institutions’ allowance for loan and lease losses and capital levels, and these institutions are enacting transition plans now.

When an accounting firm’s business client faces an IRS audit, the stakes of having qualified advice from their accountant are clearly higher than if the client needed help on a simple IRS inquiry letter or notice.

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