CECL Auditing Part 1: Historical Balances and Calculations

September 4, 2019 | 2:00pm - 3:00pm ET

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About the Webinar

This session will review the key data requirements under CECL as well as concepts to audit the historical data totals, calculations within the model such as prepayments, and internal controls over data. Participants will gain an understanding of:

  • Amortized cost basis by pool
  • Data exceptions and errors
  • Data pooling historically and currently
  • How data quality will create volatility and materiality issues
  • Credit quality factors and the effects on models and monitoring credit risk
  • Life cycle accumulated data including PD and LGD
  • Prepayment calculations and charge offs for models as well as controls over adjusting data before forecasts
  • Additional audit procedures for third party data
  • Purchased Credit Deteriorated determinations and calculations

This session is recommended for internal accountants, external auditors, and regulators.

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Presented By

Mike UmscheidMike Umscheid, President & CEO, ARCSys

Mike has been providing accounting, consulting and auditing services to financial institutions for over 30 years. Considered the “CECL Guru,” Mike was selected by the AICPA to create and deliver their 8-hour CPE course on CECL. He is a past member of the Auditing Standards Board and a published author on Accounting and Auditing for Financial Institutions. Mike has spoken at numerous AICPA conferences as well as other national and local financial institution associations. Mr. Umscheid is also the author of the 8-hour CPE course published by the AICPA for CECL. Mike is currently the President and CEO of ARCSys, a consulting firm that specializes in Allowance for Credit Loss software and CECL. He graduated from Virginia Polytechnic Institute and State University in Blacksburg, Virginia.