- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Accounting activity at publicly held financial institutions apparently is picking up to prepare for new requirements for the recognition of loan losses.
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The long-awaited new accounting for credit losses, better known as CECL, is moving forward in 2019 unless someone takes definitive action to delay or alter it.
When the economy starts to sour, CECL will push it faster and further in that direction, say banks calling for a delay and study of the new loan loss rules.
Recent guidance and potentially more to come is aiding companies in their long journey to adopt the new CECL method for reflecting credit losses.
