Objectives of the Presentation
Why Should you Attend
- Gain an understanding of the new requirements under CECL
- How you can prepare to meet expectations
- The things that Internal Audit can do today to assist their organizations in meeting deadlines
- The things that Internal Audit should not get involved with today
- What regulators will expect to see in managing CECL requirements
With all the attention placed on CECL, it is important that organizations utilize all resources available to them. Also, Internal Audit is in a unique position to help the organization develop and implement CECL processes.
This webinar provides both parties with real time ideas on how the Internal Audit department can provide consultative expertise during development and then independent testing during implementation, thereby assuring management that CECL controls are sustainable and effective.
To better understand CECL requirements and how the internal audit department can support management’s efforts in complying with those requirements. Internal Audit should not come in after the fact and state that the process implemented was wrong, rather Internal Audit should be part of the process to counsel with management on what controls should be implemented, provide independent assessment of control design and effectiveness and once implemented, test controls to ensure sustainability.
Who will Benefit
- CECL requirements
- Current Status of CECL Implementation
- Audit testing possibilities
- Consultative opportunities
- CECL Process enhancements
- Audit Managers
- Audit Leaders
- Risk Managers
- Model Risk staff
- Compliance officers
- Business executives
- External auditors
New guidelines provided by accounting standards and supported by banking regulators impact all financial service businesses that grant credit. The new guidelines are flexible and concrete guidance from regulators has not yet been communicated. This leaves it up to management to implement processes that meet the new standard. This webinar will provide insights to help in that effort.