Workpapers and Resources

NCUA Regulations

• Part 702 Subpart G, CECL Transition Provisions

• § 702.113, Full and fair disclosure of financial condition

• § 723.4(g)(3), A credit risk rating system

GAAP/FASB Rules

• ASC 310, Receivables

• ASC 326, Financial Instruments—Credit Losses

• ASC 450, Contingencies

• ASU 2022-02, Troubled Debt Restructurings and Vintage Disclosures

• FASB Staff Q&A, Topic 326, No. 1: Whether the Weighted-Average Remaining Maturity Method Is an Acceptable Method to Estimate Expected Credit Losses

• FASB Staff Q&A, Topic 326, No. 2: Developing an Estimate of Expected Credit Losses on Financial Assets

NCUA Guidance

Other Supervisory Committee Audit, Minimum Procedures Guide

Interagency Guidance

• Interagency Policy Statement on Allowances for Credit Losses

• Interagency Supervisory Guidance Addressing Certain Issues Related to Troubled Debt Restructurings

• Joint Statement on the New Accounting Standard on Financial Instruments—Credit Losses

• Frequently Asked Questions on the New Accounting Standard on Financial Instruments – Credit Losses

NCUA Accounting Bulletins

• Accounting Alert 22-02, Current Expected Credit Losses (CECL) Effective Date for Credit Unions (Revised)

• Accounting Bulletin 14-01, Interagency Regulatory Reporting Policy Revised in Relation to Loans that have Previously been Modified in a Troubled Debt Restructuring

• Accounting Bulletin 13-01, Interagency Supervisory Guidance Addressing Certain Issues Related to Troubled Debt Restructurings

NCUA Letters to Credit Unions

• 22-CU-10, Simplified CECL Tool for Credit Unions

• 17-CU-05, Frequently Asked Questions on the New Accounting Standard on Financial Instruments – Credit Losses

• 16-CU-13, Frequently Asked Questions on the New Accounting Standard on Financial Instruments Credit Losses

• 13-CU-03, Supervisory Guidance on Troubled Debt Restructuring

• 03-CU-01, Loan Charge-off Guidance

NCUA Examiner’s Guide

• Commercial & Member Business Loans, Credit Risk Rating Systems

• Commercial & Member Business Loans, Commercial Loan Administration

• Investments

AICPA Resources

• AICPA Credit Losses Task Force Auditing Subgroup

• Credit Loss Standard (CECL) Issues

• AICPA CECL Practice Aid - Allowance for credit losses - audit considerations

Current Expected Credit Loss Tools

• Scaled CECL Allowance for Losses Estimator (SCALE) Method and Tool

• Current Expected Credit Losses (CECL) – Expected Loss Estimator (ELE) Tool

• The Simplified CECL Tool