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CU2113
Introducing the 2021 AICPA CECL Audit and Accounting Guide
Date
October 19, 2021
$49
Standard Price
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This includes sessions from the conference: 2021 AICPA & CIMA Conference on Credit Unions
Join this session for a stroll through the 2021 AICPA CECL A&A Guide. The AICPA CECL task force has been progressing towards the issuance of an AICPA Guide since before the FASB finalized ASU 2016-13, “Financial Instruments: Credit Losses (topic 326), Measurement of Credit Losses on Financial Instruments,” also known as CECL. In 2019, the AICPA issued Practice Aid, “Allowance for Credit Losses —Audit Considerations.” Using the Practice Aid as a starting point, the AICPA CECL A&A Guide provides authoritative auditing guidance, provide implementation observations from 2020 adopters, and incorporates accounting issues addressed by the FASB’s Transition Resource Group (TRG) and the AICPA’s Financial Reporting Executive Committee (FinREC).
Learning Objectives
- Evaluate the implementation observations from 2020 adopters
- Analyze management’s responsibilities and auditor’s considerations for internal control & governance, sources of risks of material misstatements, presentation & disclosure and communications with respect to the CECL standard
- Recognize accounting issues addressed by the FASB’s TRG and AICPA’s FinREC
Speakers
Sydney K. Garmong, CPA, CGMA
Partner, National Office, Crowe LLP
Jason Brodmerkel, CPA
Sr. Manager - Accounting Standards, Co-Chair DIEP, AICPA & CIMA
Mike Lundberg, CPA
Partner, RSM US LLP
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