The new world of credit losses
The FASB’s Current Expected Credit Loss (CECL) model for measuring credit losses on loans and other financial assets is the biggest accounting and financial reporting change for financial institutions in over a generation. Many challenges lie ahead for you in maintaining, validating and reporting under CECL, but we are ready to help you at each step.
We specialize in accounting and financial reporting, credit underwriting and analysis, process and systems management, and information technology — and our professionals are here to guide and support your team so that you can validate the effectiveness of your CECL solution.
Let us help your institution with your CECL needs:
- Model validations
- Vendor solution evaluations
- Implementation assistance
- Accounting and financial reporting assistance
- Training and education
- Call report assistance
Contact us to learn more, or explore our CECL resources below:
Articles and whitepapers
- Answering 5 top CECL model validation questions
- Seeking validation of your CECL model is no cliche
- Six methodologies for CECL implementation
Featured Thought Leader
Brett D. Schwantes, CPA
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.