U.S. Auditors Shrug Off a Trio of Impending Rule Changes

U.S. auditors have been looking over the shoulders of their financial institution clients for more than a year as banks march toward a transformational change in how they book loan loss reserves.

At the same time, they’re adjusting to a set of new standards for auditing—rules that will shape how they approach estimates like credit losses.

The collision of rules, however, isn’t fazing many auditors, who appear to be taking the changes in stride.

“The challenge is not so much that there is something completely unprecedented happening or that it’s something we’ve never audited before. ...