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Blog: What issues should be on the 2021 audit committee agenda? | Cooley LLP

e.g., the new credit losses standard). A key aspect of CECL, according to  Bloomberg, is the requirement that businesses “make a ‘reasonable and supportable’ assessment about the future when they tally expected losses. The uncertainty about the coronavirus could throw what they previously thought of as reasonable out of whack.” As noted in this PubCo post, at a meeting of the SEC’s Investor Advisory Committee, a Committee member commented that, in light of the economic conditions r...
United States Wesley Bricker Sagar Teotia Jay Clayton Investor Advisory Committee American Institute

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