FASB Assembles Transition Resource Group (TRG)
Apr 1, 2016
The first of April marked the first meeting of the Transition Resource Group, or TRG, with Financial Account Standards Board (FASB) members and staff to share views and concerns about the expected credit loss portion of the upcoming CECL standard (Subtopic 326-20).
In a news release on March 22, the FASB described the function of the TRG as a group of stakeholders that will help “solicit, analyze, and discuss implementation issues that could arise when organizations implement the upcoming credit loss standard.” FASB Member Lawrence W. Smith will chair all public TRG meetings.
Members of the TRG include auditors, users, financial services regulators and financial statement preparers. Below is the full list of members, as published by the FASB.
- Diane Bellas, Director, Corporate Accounting Research at Allstate Insurance Company
- Fredrick Cannon, Director of Research, Chief Equity Strategist and Executive Vice President at Keefe, Bruyette, & Woods, Inc.
- Chip Currie, Partner, National Professional Services Group, at PricewaterhouseCoopers LLP
- Graham Dyer, Senior Manager, Accounting Principles Consulting Group, at Grant Thornton LLP
- Sydney Garmong, Partner, National Office, at Crowe Horwath LLP
- Susan Hannigan, Senior Vice President and Chief Financial Officer at Jeanne D’Arc Credit Union
- Jon Howard, National Office Partner, Accounting Services, at Deloitte & Touche LLP
- Xihao Hu, Executive Vice President—Finance and Head of Accounting, Tax, Planning & Finance Shared Services at TD Bank
- Helen Killoch, Vice President and Chief Accountant at BMO Financial Group
- Mario Mastrantoni, Director of Accounting Policy at Wells Fargo & Company
- Mark Northan, Partner, Department of Professional Practice, at KPMG LLP
- Dan Palomaki, Managing Director, Accounting Policy, at Citigroup
- Kevin Stoklosa, Senior Vice President and Senior Director—Accounting Policy, at First Niagara Bank
- Robert Wadley, Partner, Assurance Services—National Accounting, at EY LLP
- Doug Wright, Chief Financial Officer at Mission Federal Credit Union
- Timothy Zimmerman, President & CEO at Standard Bank, PaSB.
- Wes Bricker, Deputy Chief Accountant at the U.S. Securities and Exchange Commission
- Steven Brown, Senior Vice President—Wholesale Credit Risk Management at U.S. Bank and member of the Private Company Council
- Barbara Vanich, Associate Chief Auditor at the Public Company Accounting Oversight Board
- Representatives from the Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, National Credit Union Administration, and the Federal Housing Finance Agency on a rotating basis.
Related Asset - Whitepaper:
CECL Data Prep Guide
CECL Data Prep Guide - Download the PDF
Related Asset - Whitepaper:
CECL Implementation Prep Guide
CECL Implementation Prep Guide - Download the PDF