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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. It will also address burden reduction changes made to FFIEC 031 and FFIEC 041. Many of the proposed changes will affect all three Call Reports, FFIEC #031, FFIEC #041 and FFIEC #051. Additionally proposed structural changes to 2018 Forms #051, #041,
and #031, proposed changes for 2018 because of accounting changes made to date will also be discussed.
Key Learning Objectives
- 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
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Paul J. Sanchez, CPA
Mr. 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.
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