CECL and the New AICPA Practice Aid: What Audit Committee Members Need to Know (Part 1)

Subscriber Content
Screenshot of the first page of CECL and the new AICPA Practice Aid What Audit Committee Members Need to Know Part 1
Charles Soranno and Ariste Reno, Protiviti Managing Directors

With deadlines around the corner for large companies to adopt the new accounting standards on current expected credit losses (CECL), the AICPA has published a Practice Aid to help management, internal auditors and audit committees prepare. The new CECL standard fundamentally changes the way financial services organizations calculate expected loan losses and raises the bar on financial statement disclosures.

This article explores characteristics of the CECL accounting standard update and introduces the AICPA’s Practice Aid, which helps organizations effectively and efficiently navigate their CECL implementation.

Free Trial

Sign up for a free, no-obligation trial to start exploring our timesaving, valuable resources.