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CECL audit panel: What auditors expect

Wondering how auditors are approaching CECL? Abrigo’s annual ThinkBIG conference took place in San Antonio, Texas, this year and provided a variety of educational sessions. One was a panel, CECL Audit & Regulatory Expectations for 2022, with experts Ashley Ensley of DHG, Anthony Porter of Moss Adams, Graham Dyer of Grant Thornton, and Neekis Hammond of Abrigo moderating. This video is a clip from the live session.

In this video, auditors address the following:

  • Will auditors expect 2023 CECL filers to have larger reserves?
  • Was the decoupling of credit risk and realized credit losses relative to economic conditions during the pandemic anomalous or should CECL models change to accommodate a pivot?
  • Is the industry off to a slow start in meeting the 2023 deadline?