Explore PwC’s latest thinking on what is changing for financial instruments: Credit losses, Fair value accounting and disclosures, Hedging simplifications and changes, FASB’s liabilities and equity proposal, and LIBOR reform.
LIBOR, reference rate reform for US companies
Regulators and industry bodies have proposed and agreed on new interest rate benchmarks to replace LIBOR rates that are anticipated to no longer be published or supported past the end of 2021.
Credit loss implementation issues identified by FinRec
Credit loss implementation issues identified by the Depository Institutions and Insurance Expert Panel members, when available, will be posted here. Full credit loss implementation issues will be posted below for informal comments after review by the AICPA Financial Reporting Executive Committee (FinREC).
AICPA Practice Aid: Allowance for credit losses — audit considerations
This practice aid has been developed to help auditors in their communications with both management and audit committees as they address FASB Accounting Standards Update (ASU) No. 2016-13, Financial Instruments — Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.
