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ABOUT THE AUTHOR

Francis Villar

Francis Villar
Francis Villar is a Senior Supervisor of the Technical Accounting Group of Scrubbed. He has experience preparing and reviewing financial statements (i.e.,10-Q and 10-K reports), including note disclosures and account reconciliations of private companies and Special Purpose Acquisition Companies. In addition, he assists public and private companies in preparing technical memoranda and provides technical accounting consultation related to leases and revenue recognition. Before joining Scrubbed, he had three years of professional experience with EY Philippines, handling financial statement audits, reviews, and agreed-upon procedures for public and private companies in the financial services industry.

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LIBOR’s Endgame: Managing the Transition to Alternative Reference Rates

LIBOR ends due to rigging allegations; SOFR becomes alternative. Transition impacts companies, requiring contract updates and posing challenges in accounting and hedging. Extension granted till Dec 2024 for necessary preparations.