2026 AICPA Banking and Credit Union Conferences, Day 2

The 2026 American Institute of Certified Public Accountants (AICPA) Conference on Banks and Savings Institutions and the AICPA Conference on Credit Unions are underway, co-located in Washington, D.C. As in prior years, these conferences highlight the current accounting and financial reporting landscape for financial institutions. Panelists from the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board (FASB), the Public Company Accounting Oversight Board (PCAOB), and prudential regulators provide thoughts on current policy matters, and industry experts deliver keynote presentations on a wide range of topics, from current economic analyses to the growing adoption of AI at organizations. This special edition of Take Into Account highlights quick takeaways from day two’s sessions.

• Former Fannie Mae chief economist Doug Duncan’s 2026-27 outlook calls for no recession in 2026 but slower growth in 2027 as consumer tailwinds fade, unemployment edges higher, and mortgage rates ease only modestly. Inflation is expected to cool by 2027, while AI investment and reshoring support growth, and housing remains mostly flat in 2026 before improving slightly in 2027.
• Board member Fred Cannon joined FASB staff members Erin Cahill and Rosemarie Sangiuolo for a discussion on the FASB’s technical and research agendas. With respect to stakeholder feedback on the costs associated with the current expected credit losses (CECL) model, Cannon acknowledged a need to focus on how the burden can be eased – whether through better application, improved oversight, or targeted standard-setting improvements. The panelists also highlighted current thoughts from the research agenda project that would broadly reconsider existing hedge accounting. The goal of the research is to create a model that would better reflect risk management, allow an institution to improve disclosure of how it manages risk, and ensure that the complexity of the accounting model is not the binding constraint for smaller institutions to enter into prudent risk management transactions.
• Several sessions throughout the day focused on mergers and acquisitions. Panelists described less time between deal announcement and regulatory approval but emphasized that these shorter regulatory approval timelines have not reduced the rigor of the review process. As a best practice, acquirers should align regulatory, credit due diligence, valuation, accounting, data conversion, and personnel workstreams well before closing.
• Members of the SEC’s Office of the Chief Accountant (OCA) and Division of Corporation Finance and the PCAOB’s Office of the Chief Auditor and Division of Registration and Inspection shared updates on priorities and recent rulemaking activity, SEC OCA consultations, and changes to PCAOB inspection priorities and processes.

As in prior years, Crowe will publish more fulsome takeaways from each conference in the coming weeks. Please visit Take Into Account for current accounting standards, financial reporting, and regulatory insights.

Portions of AICPA materials reprinted with permission. Copyright 2026 by AICPA.
FASB materials reprinted with permission. Copyright 2026 by Financial Accounting Foundation, Norwalk, Connecticut. Copyright 1974-1980 by American Institute of Certified Public Accountants.