Tax/Accounting

ABA Cautions PCAOB, IAASB on New Auditing Standards Proposals

With changes to bank accounting on the horizon, including the Financial Accounting Standards Board’s Current Expected Credit Loss accounting standard and upcoming requirements to disclose bank loans at their so-called “exit price,” ABA noted that many auditing firms will need to employ experts and pricing specialists and that banks will need to greatly expand the documentation supporting their estimates.

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