The Current Expected Credit Loss (CECL) accounting standard replaces multiple impairment accounting models with a single expected credit loss model. Significant time and effort will be devoted to the transition to the CECL standard between now and Q1 2020, the mandatory adoption date for calendar year SEC registrants.
The gap analysis is a critical step in the transition from current U.S. GAAP to CECL. Discoveries made during the gap analysis will serve as the foundation for the implementation roadmap and ultimately the design of the reserving process.
In this webinar, industry experts discuss considerations to help you establish a framework for performing the CECL gap analysis including:
- Reviewing existing allowance and credit risk management practices
- Identifying processes that can be leveraged when adopting the new CECL standard
- Evaluating and prioritizing enhancements to current functionality
- Identifying new functionality and processes to be built
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