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 implementing CECL, but we are ready to help you at each step to meet the CECL deadline.

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 find a CECL solution just right for your institution. We help you understand CECL’s requirements, evaluate various models, manage data storage and transfer, implement and test your CECL methodology, and stay on track through the whole process with service offerings. Let us help your institution with:

Readiness assessments
Project management and implementation plans
CECL modeling
Data storage and data transfer assessments
Vendor solution evaluations
Model validations
Accounting and financial reporting assistance
Training and education

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.