2026 AICPA Banking and Credit Union Conferences, Day 3

The 2026 American Institute of Certified Public Accountants (AICPA) Conference on Banks and Savings Institutions and the AICPA Conference on Credit Unions concluded yesterday. 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 three’s sessions.

• Panelists in multiple sessions said that they do not expect the current expected credit losses (CECL) accounting standard to be eliminated for a subset of companies despite a push from the Federal Reserve. Support for burden relief for certain institutions is widespread. The FASB released a survey for preparers to better understand the cost of estimating credit losses under CECL as part of its post-implementation review process.
• Jason Schenker, president of Prestige Economics and chair of the Futurist Institute, described a future in which AI is embedded in everyday work rather than treated as a separate technology initiative. He encouraged organizations to use AI to perform non-core functions, test and proof core work, monitor external developments, and serve as a training partner while maintaining strong data and security guardrails. As AI drives greater efficiency and productivity, Schenker emphasized that CPAs’ core responsibilities will remain unchanged and that human judgment, trust, and genuine relationships will become increasingly valuable.
• In a session focused on the responsible use and governance of AI, panelists noted that the variability of generative and agentic AI requires governance to extend beyond traditional model risk management. Effective governance begins with board education and senior-level accountability and includes clear data classification and retention standards, mandatory training, risk-based approval criteria, explainability and traceability expectations, and third-party oversight. In addition to subscription costs, token-based consumption pricing introduces new budgeting complexity, requiring institutions to forecast and monitor usage and evaluate whether individual AI use cases are generating sufficient value relative to their cost. Institutions also should establish vendor management strategies and safe environments for experimentation while streamlining approval processes so governance supports, rather than delays, responsible AI adoption.
• Large-bank accounting policy leaders discussed emerging priorities across the finance function. Panelists shared perspectives on a wide range of accounting policy and controllership topics, including the use of AI within accounting policy, potential shifts toward semiannual reporting, the future evolution of CECL, and governance models for maintaining accounting policy compliance across large, complex organizations. The discussion also provided insight into how leading institutions are structuring their accounting policy functions and balancing centralized expertise with business line accountability. Hedge accounting was among the accounting topics discussed. As the FASB advances its short-, medium-, and long-term hedge accounting projects, panelists emphasized that now is the time for smaller institutions to make their voices heard. By sharing why they do not hedge, or why they hedge less than they otherwise might, community and regional banks can help the FASB better understand barriers to entry as it considers broader changes to the standard. Panelists expressed strong support for the long-term project, which could fundamentally rethink the hedge accounting model from the ground up.
• In 2027, the banking and credit union conferences will combine under one AICPA Conference on Banks and Credit Unions. The event will be hosted in National Harbor, Maryland, Sept. 13-15, 2026. We hope to see you in person next year.

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.