CECL Standard – How to Strengthen Your Internal Controls through Automation
For some industries, the Financial Accounting Standards Board’s new CECL accounting standard is one of the most challenging accounting change projects in more than a decade. The transition to CECL will not only impact how companies calculate their loss reserves, but will fundamentally change processes in both finance and credit risk management. The adoption of the CECL standard will likely affect internal controls and the need for data not previously used for financial reporting purposes.
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