Brett D. Schwantes, CPA
Director
Brett Schwantes has more than 25 years of experience working closely with financial institutions and is the leader of the audit and accounting committee for the financial institutions practice of Wipfli LLP and a member of Wipfli’s Accounting Standards Advisory Group. He advises clients on various unique and complex issues such as derivatives, fair value measurements of financial instruments and the new CECL accounting standard. Brett also consults with clients on the impact of new accounting standards and how best to implement them to avoid negative consequences whenever possible.
Brett shares his knowledge and understanding of current accounting trends and issues with other professionals through professional organization meetings, including FMS Finance & Accounting Forum, the National Directors and CEOs Leadership Convention, the WICPA and ICPAS Financial Institutions Conferences, the Banking CPAs annual conference, the CBAI Annual Convention and Wipfli’s annual Community Banking Forums. In addition, he has authored several articles that address new and technical accounting issues affecting the financial institution industry.
Certifications
- Certified Public Accountant
Professional memberships and activities
- American Institute of Certified Public Accountants (AICPA) - Member
- Wisconsin Institute of Certified Public Accountants (WICPA) - Member
- WICPA Financial Institutions Conference - Past member and planning task force chair
- Banking CPAs – Past member and executive committee chair
Areas of Focus
- Financial institution audit and accounting services
- Investment company audits and examinations
- SEC, FDICIA, HUD, and other regulatory reporting
- Asset/liability analysis and assistance with interest rate swaps and other risk management tools
Education
University of Wisconsin-Eau Claire
- Bachelor of business administration degree in accounting - Graduated summa cum laude
Recent Insights
Articles
Accounting for contract incentives
May 20, 2024
Accounting for core system conversions
Mar 28, 2024
CECL is here, and it might have more impact than you think
Jan 23, 2024
Accounting for the rise of cloud computing arrangements
Jan 12, 2024
What the new Wisconsin tax exemption means for your bank's deferred tax asset
Oct 18, 2023
Accounting challenges with New Markets Tax Credits
Oct 27, 2022
Implementing CECL: The WARM method
Apr 13, 2022
CECL for nonbank entities: New models for estimating credit losses
Nov 11, 2021
What the end of LIBOR means for financial institutions
Oct 27, 2021
FASBs New standard for leases
Oct 21, 2020
Getting ready for revenue recognition changes
Oct 31, 2019
A One-Time Opportunity to Reclassify Qualifying Securities Held to Maturity
Nov 04, 2018
CECL Methodologies Series: Discounted Cash Flow
Aug 27, 2018
CECL Methodologies Series: Probability of Default
Jun 19, 2018
CECL Methodologies Series: Remaining Life
Apr 24, 2018
Revenue Recognition for Financial Institutions
Dec 17, 2017
CECL Methodologies Series: Migration Analysis
Oct 29, 2017
CECL Methodologies Series: Vintage Loss Rate
Aug 24, 2017
CECL Methodologies Series: Cumulative Loss Rate
Jun 19, 2017
CECL: Getting Started
Mar 01, 2017
Revenue Recognition Update
Jul 01, 2016
Tax Day Is Behind Us … What’s Next?
Apr 27, 2016
Webinars
Webinar: Accounting and audit update for financial institutions
Dec 12, 2023
Frequently asked CECL implementation questions
Jan 24, 2023
CECL model implementation demo
Mar 31, 2022