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
Contact us to learn more, or explore our CECL resources below:
Recorded Webinars
- CECL model implementation demo – April 1, 2022
- Audit and accounting/CECL update – November 11, 2021
- CECL Strategies for Loan Participations – January 22, 2020
- CECL Implementation: Practical ideas to move forward – December 13, 2018
- Will you be ready for CECL? – October 26, 2017
- Getting ready for CECL – December 1, 2016
Blogs
- CECL: The hour is getting late – February 27, 2022
- Financial intuitions can’t afford to tun out CECL – August 19, 2021
- Podcast: CECL’s impact on financial intuitions – January 25, 2021
- CECL Easy button – January 28, 2019
- CECL: Are you procastinating? – November 21, 2017
Article and Whitepapers
- Six methodologies for CECL implementation – March 31, 2022
- Wipfli CECL poll results: How do you compare to your peers? – January 2, 2022
- CECL for nonbank entities: New models for estimating credit losses – November 11, 2021
- Summary and analysis of the Fed’s Scaled CECL Allowance Estimator– July 20, 2021
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.

Meet the CECL deadline with Wipfli’s CECL model
