Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

Bankers expect big accounting change under CECL model

Tammy Whitehouse | October 11, 2016

Bankers are expecting a new accounting rule on how to reflect credit losses in financial statements to produce big accounting process changes -- some saying the biggest changes ever.

At a recent conference of the American Bankers Association, 63 percent of more than 100 banking executives who participated in an on-site poll said they expect “substantial changes” to policies, procedures or technology to comply with Accounting Standards Update No. 2016-13. That’s the financial-crisis-inspired standard adopted by the Financial Accounting Standards Board that require companies to measure loan losses or other credit-related losses...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.