Auditing/Accounting
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CECL Blog Series – Part #1
Welcome to the CLA CECL Blog Series, where we’re hoping to answer you your CECL Questions one blog at a time!
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Lease Accounting Standard Update
The COVID-19 pandemic delayed the lease standard for private financial institutions. Learn more about the standard and how CLA can help your organization.
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Accounting considerations for Payroll Protection Program (PPP) loan forgiveness
Many of you are familiar with the blog post we shared with you in April 2020 focused on the accounting considerations of processing and funding PPP loans. We wanted to update that post with a larger focus on the forgiveness process. Our summary of the primary accounting considerations financial institutions should consider, during the forgiveness […]
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Changes to FDICIA Audit Requirements
On October 20, 2020, the FDIC issued an interim final rule (IFR) to provide temporary relief from the financial statement audit requirements under FDICIA for banks that have experienced temporary growth due to participation in the Paycheck Protection Program (PPP), or other stimulus activities and programs. The IFR is effective immediately and appears to provide effective relief by allowing most institutions to […]
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New Crisis = New Safety and Soundness Standards, Part 4
In this final piece of the series, we explore the evaluation of Management. We encourage you to join us for our live webinar on Tuesday September 1, 2020 at 2pm CST where we will explore this blog series in more detail. You can use this link to register.
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New Crisis = New Safety and Soundness Standards, Part 3
We continue our review of the latest interagency examiner guidance by exploring Earnings, Capital, Liquidity and Sensitivity to Market Risk.
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New Crisis = New Safety and Soundness Standards, Part 2
We continue our review of the latest interagency examiner guidance by exploring PPP Loans, Credit Modifications, Nonaccrual Loans, and the ALLL/ACL. R
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New Crisis = New Safety and Soundness Standards
With the release of interagency examiner guidance for assessing safety and soundness, many financial institutions should take time to assess their readiness for upcoming examinations.
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The Impact of the PPP Flexibility Act and Related SBA Releases of Updated Form 3508
The Paycheck Protection Program continues to evolve and the passage of the Paycheck Protection Program Flexibility Act of 2020 has created more questions. Here are some insights to help lenders navigate these changes.
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COVID-19 Related Loan Modifications
This blog is being posted on behalf of my colleagues, Susan Sabo and A.J. Eschle, principals in CLA’s financial institutions practice. As we enter the middle of May, many financial institutions are facing their next set of challenges in the COVID-19 environment – loan modifications. Financial institutions are now documenting the various types of COVID-19 related […]