Abrigo Will Start Its Annual Survey For CECL Readiness

Abrigo is one of the most viral companies in the financial institutions. It is known for its technological services in credit risks and lending issues. However, it is commonly known for an annual survey they conduct that observes, analysis and tracks the financial market’s progress in terms of its motion, speed and impact on the Financial Accounting Standards Board’s (FASB) and the Current Expected Credit Loss Standard (CECL).

This survey is waited for by all companies and anyone interested in the financial market due to its huge impact and the insights it provides for future work. This survey has been named as “the biggest accounting change in banking history,”  by the financial services industry due to the wait for it. This survey will take place on December 15, 2019.

This survey is conducted directly by Abrigo, as they interview hundreds of companies under the financial umbrella, where they track their progress. This is done through the standards based by CECL. The study will also target checking the financial statements of the organizations.

One of the gained benefits from the survey is the fact that it helps the business to be aware of their progress and moves. It will also help them understand the level of influence that CECL affects their numbers whether they are implementing it or not.

Being part of the survey will allow you to be one of the first people to check the results and learn from them. There are also a few prizes for the companies that show good results in their financial statements and progress.

Neekis Hammond and Chris Emery, Risk Consultants in Abrigo, will be responsible to study and analyse the results after gathering data. They will also have the task to compare results with the previous years, showing the effects of CECL on companies.