- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The long-awaited new accounting for credit losses, better known as CECL, is moving forward in 2019 unless someone takes definitive action to delay or alter it.
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It’s more than big change prompting major deferrals for pending accounting rules. It’s also about the growing tension between estimation and precision.
Efforts to adopt CECL are generally underway in the banking sector, but companies outside financial services may still have plenty to do.
Citigroup raised its expected loan loss reserves under CECL as it prepares for parallel testing of its methodology, but plenty of organizations have barely started.
