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 […]
