Accounting & Auditing

The Financial Accounting Standards Board has made major improvements to its final accounting standards update on credit losses to address community bank concerns. While not perfect, the final Current Expected Credit Loss standard shows FASB has heeded the calls of community bankers for a more workable solution that will avoid disastrous consequences for local communities.

Key Resources from FASB and Regulators

ICBA Featured Resources

Articles & Press Releases

Title Publication Date
ICBA: FASB Makes Major Improvements to Accounting Standard Press Release 06/16/16
ICBA: FASB Continues Progress with Revised Accounting Disclosures Press Release 04/27/16
ICBA: CECL Reforms Show FASB Listening to Community Banks Press Release 04/22/16
ICBA: FASB Reforms to CECL Standard Support Community Bank Accounting Methods Press Release 04/01/16
ICBA Statement on FASB Transition Resource Group Press Release 03/28/16
ICBA Announces 2016 Community Banking Policy Priorities Press Release 03/08/16
ICBA to FASB: Hit Stop Button on Dangerous Accounting Plan Press Release 02/04/16
Bipartisan Congressional Letter Supports ICBA Case Against FASB Accounting Reforms Press Release 02/01/16
ICBA Calls for Community Banker Meeting with Full FASB Board Press Release 01/07/16
ICBA Leadership: FASB Comments Slander Community Banks Press Release 12/16/15
ICBA Statement on Comments by Financial Accounting Standards Board Chairman Russell Golden Press Release 12/10/15
Community Bank Successes Provide Year of Progress CEO Alert 12/07/15
FASB To Vote on Accounting Changes That Will Impact Community Bank Lending CEO Alert 11/18/15
2014 Year in Review: Community Banks Are Winners in Washington CEO Alert 12/02/14

Letters to Congress

Title Recipient Date
Representatives Boehner and Pelosi
07/08/2013

Letters to Regulators

Title Recipient Date
SEC
05/08/2017
FASB
04/22/2016
FASB
03/17/2016
FASB and Its Private Company Council (PCC)
01/29/2016
FASB
01/07/2016
FASB
12/15/2015
FASB
02/24/2015
11/03/2014
FASB
12/16/2013
PCAOB
12/11/2013
IRS
09/23/2013
FASB
09/19/2013
FASB
09/12/2013

Testimonies

Title Committee Presenter Date

Summaries

Title Content Type Date