Current Expected Credit Losses (CECL) Model

In 2016, FASB issued Accounting Standards Update (ASU) no. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. This ASU has an extensive reach as it applies to all entities and most financial assets that are not measured at fair value through net income.

The intent of this training is to summarize key provision of FASB Accounting Standards Codification (ASC) 326 and to address key considerations in auditing the allowance for credit losses (ACL) related to loans under ASU 326-20 and disclosure considerations. This training highlights key areas within the auditing process, including obtaining and understating of the entity, assessing the risks, identifying the controls relevant to the audit, designing an audit response, performing audit procedures, and evaluating the audit results.

Objectives: Completion of this training will enable you to:​

1. Gain an understanding of the standard on credit impairment issued​.
2. Identify accounting principles and practices used in relation to the allowance for credit losses.​
3. Assess issues related to the allowance for credit losses.​

"Instructional Delivery Method": Group live.

CPE Credits: 3

P.R. Field of Study: Accounting & Auditing

"NASBA Field of Study": Accounting & Auditing

Pre-requisite: None

Advance Preparation: None

Level: Basic

Date: May 21, 2024

Registration: 1:30pm - 2:00pm                  Seminar: 2:00pm - 5:00pm

Instructors: 

• CPA Silvia Bonet Rivera, Audit Partner, Kevane Grant Thornton LLP
• CPA Ángel M. Rivera Ruiz, Audit Partner, Kevane Grant Thornton LLP

Place: Colegio de CPA, Edif. Capital Center I, PH-2, Hato Rey 

Materials: This course will be paperless and the materials will be distributed electronically. Download them through "Mi Perfil → Registros de Eventos → Selecciona Evento → Tab Materiales", on the Colegio's website. After the date of the event download them through "Mi Perfil → Registros de Eventos → Registros Corrientes → Historial → Selecciona Evento → Tab Materiales". Electronic devices may be brought to the classroom to access the downloaded materials. We reserve the right to admission.

Electronic evaluation: Once you have registered your entry to this educational activity, you can quickly and easily access and complete the evaluation through "Mi Perfil". On our website "Home" page you will find detailed instructions for completing the form.

Notice: The Colegio de CPA reserves the right to substitute instructors and suspend a course due to insufficient enrollment or other causes beyond our control. We reserve the right to refuse admission. Space is limited. Registration is subject to the available slots. The tuition price for CPA applies to those who at the time of registration do not owe debts to the Colegio.