Regulatory Update: CECL on Horizon
November 4, 2015
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After many fits and starts, and nearly three full years since the initial proposed Accounting Standards Update (ASU), the word is that the final CECL guidance will be released in the first quarter of 2016. A “fatal flaw” draft has been released to a specified group of individuals and firms to be reviewed one last time before a final release. MST has followed FASB’s development of CECL closely. We are anticipating some surprises and many unanswered questions; however, MST will be in the best position to provide guidance. MST will continue to follow developments and communicate regulatory updates here and through our other communication channels. Please take a look at the CECL: Ready, Set . . . Go? whitepaper for more details.
