Jonathan Jacobs Talks to Global Finance About Current Expected Credit Loss

Jonathan Jacobs, Managing Director in Duff & Phelps’ Financial Reporting Practice, was recently quoted in an article in Global Finance.

The article discusses the new “current expected credit loss” (CECL) standard devised by the FASB. CECL reaches beyond banks to any entity that extends medium or long-term credit: automakers and dealers, retailers with in-house credit cards or installment plans, and others.
 
Talking about CECL, Jonathan said, “You should start to see convergence in CECL approaches as investors, clients and auditors have time to analyze the disclosures. But it’s going to take at least a year.”

Read the full story here.