Case Study Fifteen: Implementation of ASC 606 - Revenue Recognition & ASC 326 – Credit Losses (CECL)  – Regional Bank.

Technical Accounting / Banking

Details

A large regional bank and SEC reporting company required expertise to implement complex new accounting standards, including ASC 606 (Revenue Recognition) and later ASC 326 (Credit Losses Standard -CECL), impacting financial reporting, systems, and internal controls.

Engaged to provide accounting and internal control leadership, working with executive and operational teams to interpret guidance, document implementation approaches, and lead system selection and deployment for CECL.

• Led successful implementation of ASC 606, including enterprise-wide assessment of revenue streams
• Developed comprehensive technical accounting documentation supporting management’s conclusions
• Strengthened financial reporting accuracy through proper interpretation and application of accounting standards
• Supported management in resolving technical positions with external auditors
• Leveraged IT audit and SOC expertise to support systems and control requirements
• Delivered smooth implementation of highly complex, technical standards with strong management and auditor confidence