Committees : Audit
Even ahead of full implementation, several lessons have been learned about the new credit loss standards.
ALLL and CECL are very different, and in some ways very similar.
The new reserve methodology coming in 2020 will shift traditional practice considerably.
Bank leaders should enact these five practices to prepare for the implementation of the CECL standard.
There is a new accounting standard with only a handful of changes going into effect for public business entities (PBEs) in the first quarter of 2018, but some of the changes are meaningful.
Regulatory agencies expect effective implementation of the CECL standard. Here’s what boards need to know.
Greg Carmichael and other speakers at Bank Director conference sound a note of caution in the face of rapid change.
Chad Kellar of Crowe Horwath LLP describes the new data requirements for new accounting standard.
Bank directors need to consider vital questions to make sure their bank is ready for a major accounting change.
As with any major initiative, a successful transition to the new accounting standard will require active involvement of the audit committee, board and senior management.