NORWALK, Conn.–Two credit union representatives have been named as members of the Financial Accounting Standards Board’s (FASB) Transition Resource Group (TRG), related to its upcoming credit losses standard.
The TRG will solicit, analyze, and discuss implementation issues that could arise when organizations implement the upcoming credit losses standard. The group will then share their views with the FASB, which will help the board determine what, if any, action is appropriate to address those issues. The TRG also will provide stakeholders with a forum to learn about the new standard from others involved with implementation, FASB said.
TRG members include financial statement preparers (including community banks and credit unions), auditors, users, and financial services regulators. Selected from credit unions were Susan Hannigan, SVP/CFO at Jeanne D'Arc Credit Union, and Doug Wright, CFO at Mission Federal Credit Union.