New perspective on climate-related financial risk
Statements and research from the Fed may undermine the case for the SEC’s approach to climate risk disclosures.
Author Michael Gullette
Michael Gullette
Michael Gullette is senior vice president for accounting and financial management policy at ABA.
Climate Risk: Greenhouse Gas Disclosures Could Take Years
Climate risk disclosures appear to be on the horizon, but full compliance could take time.
CECL and COVID: Inconclusive, But Wait for the Auditors
By Mike Gullette Credit goes to the Department of Treasury with their conclusion, documented in…
PCAOB Approves New Auditor Reporting Standard
The Public Company Accounting Oversight Board today approved a new auditor reporting standard aimed at providing more relevant information to investors.
CECL: What You Need to Know Now
CECL represents not just a change to bank accounting but to how all banks manage their businesses.
CECL from the Inside
A conversation with FASB’s Russell Golden
CECL: Simply Complex in the Real World
Here it comes! ABA’s Mike Gullette on FASB’s long-expected final Current Expected Credit Loss standard for impairment of loans and debt securities.
Community Bank Impairment Cost Study Published
With FASB’s recent announcement of a 2019 effective date for their CECL impairment accounting standard, Fintellix Solutions and Ardmore Banking Advisors have released a white paper: “Effective CECL Adoption Timelines Confirmed: Expected Cost of Implementation.”
Fed Staff Want Scalability for New Impairment Accounting
During a conference call yesterday with more than 3,000 participants, Federal Reserve Board staff indicated that the Financial Accounting Standards Board’s new model for impairment accounting — current expected credit loss, which is expected to be finalized in January and effective no earlier than 2018 — is not a tweak to existing accounting, but rather a fundamental change to bank accounting.
ABA Urges Restraint in PCAOB Proposal
ABA recently urged the Public Company Accounting Oversight Board to emphasize enforcement of current audit requirements relating to the work of specialists, rather than creating new auditing standards.