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 Accounting Standards Board is considering giving privately held companies and not-for-profit organizations an extra two years to implement standards.

Many banks and financial institutions are encountering challenges in preparing for the Financial Accounting Standards Board’s credit losses standard, according to a new survey.

The Financial Accounting Standards Board is giving banks some leeway in applying the new credit losses standard.

The Center for Audit Quality has introduced a new guide to assist audit committees at overseeing their companies efforts to comply with the new credit losses accounting standard.

The Financial Accounting Standards Board released an accounting standards update Thursday to clarify three of its recent standards for credit losses, hedging, and recognition and measurement of financial instruments.

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.

Financial institutions are scrambling to prepare for the imminent approach of the credit losses standard.

The Financial Accounting Standards Board hopes to simplify the move to the new credit loss rules by offering an option to measure certain assets at fair value.