1-Hour Program

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This One-Hour Briefing will focus on the Governance, Risk and Compliance (GRC) and legal enterprise-wide solutions and disclosures for the FASB’s new financial instrument impairment standard CECL. CECL models require complex new judgments and estimates, and that impacts governance, risk, compliance, legal, technology, finance and the business units of companies.  This new approach applies to all financial instruments, including accounts receivable, loans receivable, mortgages and investments.  Significant enterprise wide implementation solutions will be required in many businesses, particularly financial institutions.

Please join George M. Wilson, Director, SEC Institute, and N. Adele Hogan, Director, Financial Institutions Consulting, in Forensics, Litigation and Valuation at Baker Tilly Virchow Krause, LLP as they help you:

  • Review the current expected credit loss approach to measuring impairment and its effective date
  • Understand the key changes and challenging estimates in the new CECL impairment model
  • Understand how the model applies amortized cost instruments and available for sale securities
  • Focus on the GRC and legal roles and disclosure obligations within CECL
  • Identify the GRC challenges within key data and estimates required to implement the CECL model
  • Enumerate the organizational functions and steps required to choose the appropriate CECL models depending on types of business

Program Level:  Update

Intended Audience:  In-house counsel, outside attorneys, audit committee and other board members, corporate officers, CFO’s, controllers, partners and staff in public accounting firms, and other allied professionals involved in the preparation, review and oversight of financial reporting and related compliance matters 

Prerequisites:  Background in governance and compliance issues and financial reporting

Advanced Preparation:  None 

Credit Details