FASB Assembles Transition Resource Group (TRG)

Apr 1, 2016

The FASB Issued the final CECL standard on June 16, 2016. For up-to-date information and resources, visit the CECL page or access the updated CECL Prep Kit.

Board meetingThe 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.