CECL in the Time of Coronavirus

Despite the associated challenges surrounding the pandemic,
preparedness will be the key to CECL. It is important that we
actively identify the issues that will create complications and
address them in preparing the estimate, work in advance to discuss
and clear issues or positions with the auditors and regulators, and
determine that there are controls in place to make sure everything
gets done right. In an interview with RMA Communications Manager
Stephen Krasowski, Benjamin Hoffman, Managing Director of Financial
Risk Management at KPMG and Joseph Bielecki, Director, Advisory, of
Financial Risk Management at KPMG, discuss the volatility of CECL
estimates, COVID-related modifications and challenges, model
limitations, and accounting policy elections and assumptions. For
podcast sponsorship/advertising opportunities, contact Adam Lennon
at alennon@rmahq.org.