Sydney K. Garmong CPA, CGMA
Partner, Crowe LLP
Sydney Garmong is a partner in the national office of Crowe Horwath LLP, located in Washington, DC. She is the partner in charge of the regulatory area which focuses primarily on accounting, financial reporting and regulatory issues affecting financial institutions. Sydney serves as Crowe’s primary liaison with the offices of the chief accountant of the SEC and federal financial institution regulators including the FDIC, the Federal Reserve, the NCUA and the OCC.
Sydney currents serves as the chairperson of the AICPA’s Credit Losses Task Force, which is focused on accounting and auditing implementation issues of the FASB’s Current Expected Credit Losses (CECL) model. Sydney is a member of the AICPA Depository Institutions Expert Panel, and previously served as the chairperson. This committee liaises with regulatory agencies and standard setters, including the FASB, the FDIC, the Federal Reserve, the NCUA, the OCC and the SEC.
Sydney also is a member of the Financial Accounting Standards Advisory Council (FASAC), which advises the FASB on agenda projects, possible new agenda items, project priorities, procedural and other matters. She is a former member of the Public Company Accounting Oversight Board’s (PCAOB) Standing Advisory Group (SAG).
In addition to addressing technical issues, Sydney is a frequent speaker at industry and regulatory conferences. Sydney currently serves as chairperson for the AICPA National Conference on Bank and Savings Institutions. Sydney is also a committee member of the AICPA National Conference on Credit Unions and served previously served as chairperson.
Sydney is a former chairperson of the Financial Manager Society’s (FMS) Board of Directors. She is also the former chair of FMS’s Accounting Council, which helps shape the direction of FMS in the area of accounting issues, and a former member of FMS’s Financial Institutions Accounting Committee (FIAC).
Prior to joining Crowe, she was a senior manager at the AICPA in Washington DC where she addressed financial institution and financial instrument practice matters and worked on financial institution projects with the Financial Reporting Executive Committee (FinREC). Sydney holds a Bachelor of Science in Finance and Real Estate from Indiana University in Bloomington, Indiana.