2023 CECL Deadline? Steps to Take This Year
By 2021, the cohort of SEC registrants required to adopt CECL will have all begun presenting financial statements under the new standard, regardless of whether they elected CARES adoption relief.
In this presentation, tailored for financial institutions that have not yet adopted the standard — or those who may feel the need to take a second look at their practices given the realities of the pandemic economy – we will discuss lessons learned from implementing the standard at more than a hundred such institutions, working with scores of different audit and validation firms across the spectrum of size, resources, and sophistication.
Participants will learn:
- How to adapt (and scale) the best practices of SEC registrant institutions to create a durable practice at their own financial institution this year
- How to avoid common stumbling blocks and project black holes that can be a drain on resources and staff
- How to use existing capabilities and assets to implement the standard, or ensure that their work implementing the standard pays dividends elsewhere at the financial institution
Meet Your Presenters
Jared Mills, CPA
Manager, Advisory Services
As Manager in Abrigo’s Advisory Services, Jared Mills provides banking advisory services and assists with strategic direction and feedback for product development. He specializes in ALLL, CECL transition, and various other portfolio risk analytics. Prior to joining Abrigo, he was the Assistant Director of Accounting at South Carolina State FCU
