Survey: Banks not preparing enough for CECL standard
According to a recent survey by RapidRatings and Compliance week, banks are nowhere near ready for FASB’s CECL requirements scheduled to go into effect in 2020.
Related articles
-
Article
Banks wrangle models, data in early stages of CECL prep
As most public companies deal with revenue recognition and lease accounting changes coming in 2018 and 2019, the banking sector is trying to tame an even bigger beast.
-
PremiumU.K. financial regulator looks to streamline audit enforcement procedures
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...
-
ArticlePCAOB’s Christina Ho: How emerging technologies could improve audit quality
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.