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SEC will watch for SAB 74 disclosure leading to CECL

Tammy Whitehouse | September 21, 2018

Consistent with the adoption of other major accounting standards, regulators will be watching closely for increasingly detailed disclosures to investors about the expected effects of moving to a new method for recognizing credit losses.

Wesley Bricker, chief accountant at the Securities and Exchange Commission, told bankers at a recent conference that disclosures explaining transition to the new “current expected credit losses,” or CECL model for reflecting performance in credit-based financial instruments, will need to be specific enough to help investors understand the change that is coming. “Nobody likes surprises,” he said.

All public companies, but financial institutions in particular, will see changes to their balance sheets as they adopt...

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