KPMG’s 2018 Current Expected Credit Loss or CECL Survey suggests quick decisions are needed by financial institutions large and small.
Time is running out for CECL implementations, and according to our just completed 2018 survey, many critical modeling, data and accounting decisions remain outstanding. Senior management and implementation teams must quickly decide whether to shorten planned parallel runs or double down on the human and financial resources that will be needed to finish up their CECL models by year end. Both choices have drawbacks and our survey explores many of the issued involved.
In order to gain insights into the state of CECL implementations, KPMG surveyed over 100 financial institutions. Survey results reveal that progress has been made, but consistent with last year’s results, companies are still struggling to decide how to handle accounting, modeling and data inputs.
Here are the issues proving to be most difficult:
Download our survey results for additional insights.