Implementing the CECL standard: 5 things you need to know

11/12/19

As companies prepare for adoption of the CECL standard, we discuss 5 things you need to know about the ongoing implementation efforts and lessons learned.

With the CECL effective date just around the corner for most calendar year-end SEC filers, many companies are in the final stages of implementation. PwC partners Chip Currie and Chris Rickli join Heather Horn to discuss implementation hot topics and the areas generating the most questions, including:

0:53 - Where should companies be in their implementation? Chris talks about dry runs and shares other best practices.
4:06 - Implementation considerations for non-financial companies. Chip discusses what’s in scope and where non-financial companies should focus.
9:02 - Use of third-party vendors and data to support implementation. Chip and Chris highlight considerations for working with third-party vendors and share lessons learned.
13:36 - Disclosures. Chip and Chris discuss SAB 74 and the new vintage disclosures.
25:01 - Final thoughts. We wrap up by sharing areas of regulator focus and early lessons learned.

View full podcast series

About our guests

Chip Currie is a Partner in PwC’s National Office with over 20 years of experience assisting companies in resolving complex business and accounting issues. He concentrates on the accounting for financial instruments for both current and emerging standards and works with many of the firm's largest financial services clients and a number of non-financial service clients on treasury-related matters.

Chris Rickli is a Partner in the Banking and Capital Markets practice in New York. Formerly in the PwC National Office, Chris now serves a variety of clients ranging from large, multinational banking institutions to broker-dealers and asset management advisors and funds.

About our host

Heather Horn is PwC’s National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.