Press Release

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 US, LLP (bakertilly.com)

Baker Tilly US, LLP (Baker Tilly) is a leading advisory, tax and assurance firm whose specialized professionals guide clients through an ever-changing business world, helping them win now and anticipate tomorrow. Headquartered in Chicago, Baker Tilly, and its affiliated entities, have operations in North America, South America, Europe, Asia and Australia. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 145 territories, with 34,700 professionals. The combined worldwide revenue of independent member firms is $3.6 billion. Visit bakertilly.com or join the conversation on LinkedIn, Facebook and Twitter.