Baker Tilly Partner Shares Best Practices on Banking’s New Credit Loss Model

PITTSBURGH, Pa. (May 14, 2018) – Accounting and advisory firm Baker Tilly Virchow Krause, LLP (Baker Tilly) is pleased to announce Ivan Cilik, partner in the firm’s specialized financial services practice, will present a breakout session on the new Current Expected Credit Losses (CECL) accounting standard at the PA Bankers 2018 Convention. Best practices related to CECL, a new accounting standard that will change how banks account for expected credit losses, will be presented by Cilik on Thursday, May 17.

“Although financial institutions aren’t required to be in compliance for a minimum of another 18 months, they can’t afford to delay their planning,” Cilik said. “Earlier this year, Baker Tilly conducted a flash poll and found more than 65 percent of community financial institutions hadn’t fully evaluated their options for CECL implementation. No matter the size organization, it is paramount to begin implementing CECL now.”

The PA Bankers Association is Pennsylvania’s leading banking trade association representing an expansive and diverse membership. The 2018 convention takes place at the Ritz-Carlton in Naples, Florida from May 16-19. In addition to serving as a conference speaker, Baker Tilly is also a gold level sponsor of this annual conference.

About Baker Tilly Virchow Krause, LLP (bakertilly.com)

Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,800 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 147 territories, with 33,600 professionals. The combined worldwide revenue of independent member firms is $3.4 billion.