Implementing CECL in 2020: Unprecedented times continue

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As companies prepare for third quarter reporting, hear PwC discuss lessons learned from CECL implementations and considerations for year end.


Adopting a new standard while responding to disruption caused by the COVID-19 pandemic has been unprecedented and complex. So, as companies prepare for third quarter reporting and look ahead to year end, Heather Horn is joined by PwC partners Chip Currie, Christophe Cadiou, and Jonathan Odom to focus on the lessons learned from CECL implementations.

Topics include:

  • 0:40 - Overview. With the CECL standard becoming effective for calendar year SEC filers right before a severe economic shock, we begin with an overview of adoption issues in 2020.
  • 7:38 - Q2 2020—what we saw. The macroeconomic forecasts were more consistent in the second quarter, but some variability remained. Christophe discusses the uncertainty preparers faced and the related judgments required.
  • 17:48 - Q3 2020—closing another quarter. As the third quarter comes to a close, what are some of the credit and accounting matters companies should consider? The panel of guests explain.
  • 25:38 - Analysts and SEC perspective. We close by highlighting what we’re hearing from analysts and the SEC staff from a disclosure perspective.


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.

Christophe Cadiou is a partner in PwC's Financial Markets practice with over 25 years experience. He advises financial institutions on practical implementation solutions to complex challenges presented by regulatory and accounting change.

Jonathan Odom is an assurance partner in PwC’s National Office SEC services practice with over 20 years of experience in providing accounting and advisory services to the financial services sector. 


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.

Contact us

Heather Horn

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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