Partners, principals and associates

Schwantes_Brett Wausau

500 N 1st St.
Wausau, WI 54403

Tel:

715.843.7404


Email: bschwantes@wipfli.com

Brett D. Schwantes, CPA

Senior Manager

Brett Schwantes has over 25 years of experience working closely with financial institutions and is the leader of the Audit and Accounting Committee for the financial institutions practice of Wipfli LLP and a member of Wipfli’s Accounting Standards Advisory Group. He advises clients on various unique and complex issues such as derivatives, fair value measurements of financial instruments, and the new CECL accounting standard. Brett also consults with clients on the impact of new accounting standards and how best to implement them to avoid negative consequences whenever possible.

Brett shares his knowledge and understanding of current accounting trends and issues with other professionals through professional organization meetings, including FMS Finance & Accounting Forum, the National Directors and CEOs Leadership Convention, the WICPA and ICPAS Financial Institutions Conferences, the Banking CPAs annual conference, the CBAI Annual Convention, and the annual Wipfli Community Banking Forums. In addition, he has authored several articles that address new and technical accounting issues affecting the financial institution industry.

Certifications

  • Certified Public Accountant

Professional Memberships and Activities

  • American Institute of Certified Public Accountants (AICPA) - Member
  • Wisconsin Institute of Certified Public Accountants (WICPA) - Member
  • WICPA Financial Institutions Conference - Past member and Planning Task Force chair
  • Community Banking Advisory Network – Past member and Executive Committee chair

Areas of Focus

  • Financial institution audit and accounting services
  • Investment company audits and examinations
  • SEC, FDICIA, HUD, and other regulatory reporting
  • Asset/liability analysis and assistance with interest rate swaps and other risk management tools

Education

University of Wisconsin-Eau Claire
  • Bachelor of business administration degree in accounting - Graduated summa cum laude

Recent Insights

Articles

Accounting challenges with New Markets Tax Credits
Oct 27, 2022

Implementing CECL: The WARM method
Apr 13, 2022

CECL for nonbank entities: New models for estimating credit losses
Nov 11, 2021

What the end of LIBOR means for financial institutions
Oct 27, 2021

Private company CFOs, make sure these FASB standards are on your radar
Oct 27, 2020

FASBs New standard for leases
Oct 21, 2020

COVID-19 increases focus on troubled debt restructurings
Apr 20, 2020

Getting ready for revenue recognition changes
Oct 31, 2019

Bank Capital Rule Changes
Apr 26, 2019

FI-New Revenue Recognition Guidance for Financial Institutions
Dec 18, 2018

A One-Time Opportunity to Reclassify Qualifying Securities Held to Maturity
Nov 04, 2018

CECL Methodologies Series: Discounted Cash Flow
Aug 27, 2018

CECL Methodologies Series: Probability of Default
Jun 19, 2018

CECL Methodologies Series: Remaining Life
Apr 24, 2018

FASB Simplifies Hedging Rules
Feb 27, 2018

Revenue Recognition for Financial Institutions
Dec 17, 2017

CECL Methodologies Series: Migration Analysis
Oct 29, 2017

CECL Methodologies Series: Vintage Loss Rate
Aug 24, 2017

CECL Methodologies Series: Cumulative Loss Rate
Jun 19, 2017

Some Big (And Not So Big) Changes Ahead
Apr 30, 2017

CECL: Getting Started
Mar 01, 2017

CECL Governance
Jan 01, 2017

Investigating CECL Methodologies
Nov 01, 2016

Measuring Credit Impairment of Financial Instruments
Sep 01, 2016

Revenue Recognition Update
Jul 01, 2016

Accounting for Contract Incentives
Jul 01, 2016

Why You Should Think Like an Auditor
May 02, 2016

FASBs New Standard for Financial Instruments
Mar 01, 2016

New Guidance for Public Business Entities
Jan 01, 2016