CRA was retained by external counsel for a Big Four accounting firm to issue an expert opinion related to their audits of a major financial institution over a number of years. The primary areas of analysis focused on audit procedures, mortgage origination, Allowance for Loan and Lease Losses and Mortgage Servicing Rights assets.
ASC 820: Determining fair value in circumstances of reduced market liquidity or inactivity
Challenging market conditions relating, at least in part, to the COVID-19 pandemic are reminiscent of the financial markets during the global financial crisis...