BCBS – Supplemental note to External audits of banks – audit of expected credit loss

December 7, 2020 – Supplemental note follows implementation of expected credit loss (ECL) accounting frameworks in some jurisdictions, with major change for banks and external auditors. May be most useful for the 2021 year-end audit, but also helpful for 2020 year-end audits. Particularly as they consider the use of forecasts and forward-looking information, together with the construction of macroeconomic scenarios/weightings, and model
performance, including data availability and the need for post-model adjustments.

For more information, visit www.BIS.gov.



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