The new current expected credit loss (CECL) standard (ASU 2016-13) is effective for years beginning after Dec. 15, 2022. It applies to financial assets measured at amortized cost, and it requires entities to record an allowance for expected lifetime credit losses when the financial asset is originated.

During this webinar, our audit professionals will discuss what financial assets are impacted, how financial statements may be impacted, internal control considerations, and how organizations can set themselves up for success.

Learning objectives:

• Define the financial statement impact of the new CECL standard.
• Develop an understanding of changes to internal processes and controls needed to apply the CECL standard.