As financial institutions who are SEC filers prepare to comply with CECL in 2020, they should be in the final stages of their implementation program and executing on parallel runs in 2019. CECL has challenged most institutions to implement a multi-pillar program that requires extensive planning, organizational change, process design, data sourcing and management, development of credit loss and financial models, assembly of reporting and disclosures, and implementation of associated technology. On the road leading to a first reporting period, organizations will no-doubt face unexpected and unanticipated circumstances necessitating late program remediation across any aspect of a CECL program. To that extent, Grant Thornton has tailored its CECL service offering to helps organization get an independent perspective of their CECL program pillars. Whether it be confirmation of acceptable interpretation of accounting principles and expectations, validation or documentation of models, conducting necessary testing of controls, or a holistic review of the entire program to identify any major gaps, an independent review of CECL implementation can help institutions more effectively manage the risk of the unknown and prepare for an estimation process with reasonable sufficiency to be critically reviewed by internal auditors, external regulators, and ultimately analysts reviewing financial statement elements containing credit loss figures. An institution’s financial soundness and reputation is at stake.
Please join us in discussing the key building blocks of a cloud data protection program and what you can start doing to manage your organization’s data risks in the cloud.
Analyze the critical implementation processes anticipated of a parallel run
Identify implementation areas where CECL gaps are likely to occur
Demonstrate Grant Thornton’s Health Check service offering
Download this webcast presentation
- Frank Saavedra-Lim, Managing Director, CECL Implementation Leader, Grant Thornton LLP
- Jose Molina, Principal, CECL Strategic Risk & Operations, Grant Thornton LLP
- John Reedy, Senior Manager, CECL Accounting SME, Grant Thornton LLP
Please note: CPE credits are not awarded for webcast replay.
Recommended Field of Study:
Business Management & Organization
Group - Internet
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