Yes, calendar year-end credit unions have until the proposed effective date of Jan. 1, 2023 to adopt CECL. However, that does not mean you should delay your implementation activities. Through these sessions and more, we'll show you the path to success.
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This includes sessions from the conference: Conference on Credit Unions 2019
Welcome & Introduction | Credit Union Issues & Opportunities (Oct 21, 2019 01:00 PM)
Economic Update (Oct 21, 2019 04:20 PM)
Audit Report Delivery, Compliance, and More with RIVIO Clearinghouse (Oct 22, 2019 07:00 AM)
Announcements and Introduction | NCUA Update (Oct 22, 2019 07:55 AM)
Auditing Standards Update (Oct 22, 2019 11:10 AM)
M&A Strategy for Bank Acquisitions (Oct 22, 2019 11:10 AM)
Hot Topics in Regulatory Compliance (Oct 22, 2019 11:10 AM)
Cybersecurity (Oct 22, 2019 01:15 PM)
Leases (Oct 22, 2019 01:15 PM)
Effective Liquidity Risk Management (Oct 22, 2019 01:15 PM)
Auditing CECL: AICPA Practice Aid (Oct 22, 2019 02:40 PM)
UBIT and Tax Reform and Impact on Your CU (Oct 22, 2019 02:40 PM)
How Forensic Data Analytics Can Help Identify Fraud and Mitigate It’s Risks (Oct 22, 2019 04:25 PM)
Staying on Target in 2019: Enhancing Performance Management and Profitability (Oct 23, 2019 07:00 AM)
Announcements and Introduction | CECL Panel Discussion (Oct 23, 2019 07:55 AM)
NCUA and the Virtual Examination Program: Exam Hot Topics (Oct 23, 2019 09:45 AM)
The Top Ten Accounting Questions (Oct 23, 2019 09:45 AM)
Best Practices to be a Successful CFO (Oct 23, 2019 09:45 AM)
Supervisory Committee Audit Guide Revisions - Finish Line in Sight (Oct 23, 2019 11:10 AM)
Insights into Executive Benefits (Oct 23, 2019 11:10 AM)
Taking the Right Kind of Risk (Oct 23, 2019 11:10 AM)
This session will provide detailed examples of data aggregation, specific long-term and short-term forecast models and how to forecast different models. The session will also discuss the use of credit quality indicators through out the CECL modeling, monitoring and disclosure process.Learning Objectives:
Do you dread your ALCO meetings? Many say that they do, but why? A strong ALCO is one of the keys for a high-performing organization. ALCO discussions should be engaging and forward-looking, where the participants see opportunities and challenges from different angles. The result should lead to more ideas, agility, and better solutions for the credit union. Creating a shift to a more strategic ALCO that people are excited about takes time. Julie will be sharing stories of the journey that her credit union has been on to create this shift. Additionally, Rob will provide insights and lessons learned from experiences with hundreds of credit unions.
Among the many take-aways, there will be specific focus on:
Credit unions' impact on markets and members has increased significantly over the past decade, but the environment is changing. New competitors, a changing economic environment and rising consumer expectations are just a few of the challenges ahead. How can credit unions continue their momentum in the coming years?Learning Objectives:
Housing is expected to provide an economic cushion to the overall economy.
Audited financials are critical today, especially for the credit union-CPA firm-regulator ecosystem. In an era of increasing fraud and cyber-risk, how these sensitive documents are exchanged and delivered has never been more important.
Join us for a discussion of audit report delivery evolution and an up-close look at RIVIO Clearinghouse, the online platform designed to meet the need for accurate, source-verified financial information exchange between CPA firms, credit unions (and other private businesses), and third party users of audited financial and other types of financial documents.
During the session, we will share an overview of the RIVIO workflow for CPA Firms, Credit Unions and NCUA Examiners, and discuss:
The session will provide an update on priorities for the NCUA and emerging issues for the credit union and financial services industry.Learning Objectives:
The AICPA Chief Auditor will discuss recently issued standards for audits (SASs) and attestation engagements (SSAEs). The discussion will also include the ASB’s active agendas including ongoing efforts to enhance the standard setters’ outreach to stakeholders regarding proposed standards and post-implementation reviews of issued standards.
This session will feature a discussion of the current status of the ASB’s projects to:
a) Revise and expand the auditor’s report,
b) Enhance auditor attention on financial statement disclosures as part of the risk assessment process and throughout the audit,
c) Revise the attestation standards to enable a practitioner to perform an examination, review, or agreed-upon procedures engagement without having to request a written assertion from the responsible party,
d) Revise the auditor’s performance and reporting responsibilities with respect to ERISA audits,
e) Explore potential changes to the audit evidence standard; and convergence efforts on estimates and auditor risk assessment.
Overview of the strategic implications of a credit union acquiring a bank as well as the strategic implications of a bank selling to a credit union including lessons learned from closed transactions.Learning Objectives:
In this session we discuss the current state of regulatory compliance for credit unions. We are in the beginning stages of a significant transition for the primary rule maker for credit unions - the CFPB. We explore how this impacts credit union compliance efforts and the fallout for boots-on-the-ground examinations. We will point out several compliance areas examiners are focusing on and how credit unions can best position themselves to have successful exams. We also tackle compliance issues that are targets for lawsuits and enforcement actions.Learning Objectives: