AUDIT READINESS 2 – LAYING THE INFORMATION OUT TO HELP THE AUDITOR
CECL AND AUDIT READINESS The Financial Accounting Standards Board (FASB) issued the credit loss accounting standard, the Current Expected Credit Losses (CECL), in June 2016. CECL focuses on expected credit losses over the life cycle of a loan and also on the reserves an institution is supposed to maintain to cover those losses. This is […]
PREPARING FOR THE CECL AUDIT – DATA TRANSPARENCY
CECL UPDATES GUIDANCE ON THE MEASUREMENT OF CREDIT LOSSES The Financial Accounting Standards Board (FASB) released a new accounting standard, the Current Expected Credit Losses (CECL) model in June 2016, updating the guidance on the measurement of credit losses for financial assets. The FASB has allowed a staggered adoption date for big and small Public […]
