FMN Accounting

FMN PLUS-2023/September, Seg 3 - CECL Model Validation: What You Need to Know

The FASB issued ASU 2016-13, which introduced the current expected credit loss (CECL) methodology for estimating allowances for credit losses. Companies are responsible for selecting their own models and as a result they are performing model validations in order to confirm that a model achieves its intended purpose. Baker Tilly US Partner Ivan Cilik and Director Sean Statz describe what's involved in a model validation - outlining the procedures applied, the challenges involved, and why this process is important.

Learning Objectives:

  • Recognize what is involved in a CECL model validation
  • Identify what makes model assumptions reasonable and supportable 
  • Recognize the key elements of model validation backtesting
  • Describe the challenges an organization faces when doing a model validation


Prerequisites/Advanced Preparation:

Work experience in financial reporting or accounting, or an introductory course in accounting.

Speakers / Authors:

Ivan Cilik, Baker Tilly US, LLP

Sean Statz, Baker Tilly US, LLP

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Price (USD)

Standard: $69.90

Details

Course Code : FMN1520-FM

Release Date : 09/08/2023
Expire Date : 04/13/2025
Credits :
CPE 2.00
QAS 2.00
Length : 1hr 40min
Course Level : Update
Course Type : QAS Self-Study
Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting

Theme : Miscellaneous

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