Sydney Garmong is a partner in the national office of Crowe LLP and located in Washington, DC. She is the partner in charge of the regulatory competency center, which focuses on practice matters related to the U.S. Securities and Exchange Commission (SEC) and federal banking agencies. Sydney serves as Crowe’s primary liaison with the offices of the chief accountant of the SEC and federal financial institution regulators including the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve and the Office of the Comptroller of the Currency (OCC).
Sydney 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. She is also a member of the FASB’s Credit Losses Transition Resource Group (TRG), which was formed to discuss issues arising from implementation and provide a public forum for stakeholders. Sydney is a member of the AICPA Depository Institutions Expert Panel (DIEP) 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).
Sydney is a frequent speaker at industry and regulatory conferences. She currently serves as chairperson for the AICPA National Conference on Bank and Savings Institutions. Sydney is a former chairperson of the Financial Manager Society’s (FMS) Board of Directors.
Prior to joining Crowe, she was a senior manager with the professional standards and services division at the AICPA. She primarily 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.