Call Report Burden Reduction Efforts and Proposed 2018 Changes for Call Reports #031, #041 and #051
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With Call Reports receiving more regulatory scrutiny than ever, it is imperative that preparers and reviewers stay current with changes to the reporting forms and instructions. The agencies have issued multiple proposals in 2017 that will impact
filers of Form 031 and Form 041, as well as institutions with less than $1 billion in total assets that complete Form 051. These proposals include changes to the way regulatory capital is reported in Schedule RC-R. This session will highlight the changes effective
March 31, 2018, and other potential changes resulting from the agencies' Community Bank Call Report Burden-Reduction Initiative.
Objectives of the Presentation
Attendees will learn the following:
Objectives of the Presentation
Attendees will learn the following:
- What efforts have already been made to reduce Call Report regulatory burden
- What major changes have been made as a result of the "new" Form #051
- What is the significance of the new Form #051, Schedule SU - Supplemental
- How has Schedule SU resulted in significant reductions in other lines and Schedules
- What changes have impacted Forms #041 and #031
- What significant changes are proposed at this time for Calendar Year 2018
Outline
Why Should you Attend
The FFIEC umbrella of regulators has made significant efforts in reducing the regulatory burden associated with Call Report preparation.
This webinar will present a brief summary of burden reduction progress to date, including:
Additionally, the webinar will focus on the proposed changes to date for the coming Year 2018, including:
Areas Covered
During the 90-minute webinar, topic coverage will include:
The FFIEC umbrella of regulators has made significant efforts in reducing the regulatory burden associated with Call Report preparation.
This webinar will present a brief summary of burden reduction progress to date, including:
- Introduction of the new form #051 for eligible small institutions
- Combining of Call Report lines
- Elimination of Call Report lines
- Changes in threshold amounts
Additionally, the webinar will focus on the proposed changes to date for the coming Year 2018, including:
- Structural changes to Schedules and/or lines
- Accounting changes that necessitate changes on the forms, themselves
Areas Covered
During the 90-minute webinar, topic coverage will include:
- Detailed review of the biggest burden reduction to date - the "new" Form #051
- Careful analysis how new Schedule SU - Supplemental has allowed the cessation of filling out other Schedules and lines that are not applicable for most small institutions
- Review of combined or consolidated Schedules and/or lines on Form #051
- Changes made to date for Form #041
- Changes made to date for Form #031
- Proposed structural changes to 2018 Forms #051, #041, and #031
- Proposed changes for 2018 because of accounting changes made to date
Speaker/s
Instructor Profile:
Paul J. Sanchez, CPA, CBA, CFSA, CGMA conducts a small CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University - C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors. He also was on the technical staff of the Auditing Standards and Examinations Divisions of the AICPA. He practiced public accounting in the New York office of Deloitte where he also was a firm recruiter and in-house professional development instructor. He was an owner and auditing and accounting seminar leader for the Person/Wolinsky CPA Review Courses, a company that prepared candidates to pass the Uniform CPA Examination. He is a frequent lecturer and seminar leader for accounting, auditing, banking, risk assessment and other professional presentations. He is the author of the textbook, "Accounting Basics for Community Financial Institutions" (Financial Managers Society, 2nd edition, Chicago, 2009) and the "Ideas an Analysis Letter: The Sanchez Take" (see www.sanchez-psa.com). As a contributing author, his chapter on 'An Auditor's Approach to Risk-Based Auditing: What to Audit and When,' is included in the textbook, "Effective Auditing for Corporates: Key Developments in Practice and Procedures," (Bloomsbury Information, Ltd, London, 2012).
Paul J. Sanchez, CPA, CBA, CFSA, CGMA conducts a small CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University - C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors. He also was on the technical staff of the Auditing Standards and Examinations Divisions of the AICPA. He practiced public accounting in the New York office of Deloitte where he also was a firm recruiter and in-house professional development instructor. He was an owner and auditing and accounting seminar leader for the Person/Wolinsky CPA Review Courses, a company that prepared candidates to pass the Uniform CPA Examination. He is a frequent lecturer and seminar leader for accounting, auditing, banking, risk assessment and other professional presentations. He is the author of the textbook, "Accounting Basics for Community Financial Institutions" (Financial Managers Society, 2nd edition, Chicago, 2009) and the "Ideas an Analysis Letter: The Sanchez Take" (see www.sanchez-psa.com). As a contributing author, his chapter on 'An Auditor's Approach to Risk-Based Auditing: What to Audit and When,' is included in the textbook, "Effective Auditing for Corporates: Key Developments in Practice and Procedures," (Bloomsbury Information, Ltd, London, 2012).
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Professional training, in the essential quality disciplines, contributes to both the competitiveness of your business and also to personal motivation; it broadens the experience and accelerates the development of those who participate. We provide training in a number of ways: ...
Professional training, in the essential quality disciplines, contributes to both the competitiveness of your business and also to personal motivation; it broadens the experience and accelerates the development of those who participate. We provide training in a number of ways: ...
