Navigating CECL accounting requirements

Resources to demystify, master, and manage CECL

The road to adoption of the credit loss accounting standard (CECL) was long and demanding, and critical decisions had to be made. You’ve put together your resources, chosen your methodology, and implemented the standard. But whether you’re reporting for the first time or you’ve already reported a few times — the challenges don’t go away. Standard setters and regulatory bodies will continue to issue guidance and enhance disclosures. One thing is clear, CECL requires ongoing monitoring and challenges to your model and its key assumptions.

Our specialists understand the standard and have identified scalable approaches to achieve compliance with the standard. With deep experience helping financial institutions implement and validate various models, our experts are at the ready to help you with the post-implementation challenges, including verification of calculations, meeting disclosure requirements, and ongoing model validation and capital stress testing.

Let us help you understand your options to confidently move forward.

Group of colleagues discussing CECL standards.
November 10, 2022

CECL guidebook part 4: Preparing financial statement disclosures

In the fourth guidebook of our CECL series, we cover need-to-know information and guidance about effectively preparing financial disclosure statements after adopting CECL standards.
White Paper / 20 min read Read more

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When considering providers for our CECL model validation, we sought a firm experienced with our CECL software solution. In addition to their thorough understanding of the software, Plante Moran’s ability to consider interactions between the software, our institution’s operations, regulatory guidance, and technical accounting requirements was extremely valuable.

Our team had already invested significant time planning and designing the model, but Plante Moran was able to help us critically evaluate concepts and offer suggestions for ways to make improvements. Since we didn’t have to spend time educating them on the software, we were able to focus on the appropriateness of the model assumptions and the related outputs and have already made enhancements to our model as a result.
Keith Suchodolski
Vice President and Chief Financial Officer, Kearny Bank

Our experts

With significant experience helping financial institutions implement CECL, and frequently speaking on the topic to national audiences, our experts can help you through the process. Get in touch now to learn more.