Financial Reporting/International Accounting

Domestic and international financial reporting issues that affect multiple areas of actuarial practice including responses to the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).

Academy letter to the House Committee on Financial Services on the definitions of "actuarial services" and "appraisal or valuation and fairness opinions" in H.R. 3763, the Public Company Accounting Reform and Investor Protection Act of 2002. (July 19, 2002)
Life, Health, and Property/Liability Financial Reporting Committees comment on NAIC exposure draft of Issue Paper 118. (April 19, 2002)
Joint RBC Task Force updated comparison of the three NAIC RBC formulas (Life, P&C and Health). (February 12, 2002)
Academy comments to FASB on Joint Working Group Draft "Standard and Basis for Conclusions, Financial Instruments, and Similar Items." (September 21, 2001)
Task Force on Fair Value letter to IASB on hybrid financial instrument accounting treatment. (May 29, 2001)
Committee on Life Insurance Financial Reporting and Committee on Property and Liability Financial Reporting comments on FASB Revised Exposure Draft: "Business Combinations and Intangible Assets — Accounting for Goodwill." (March 16, 2001)
Fair Value Task Force comments on Basic Issue 11, Fair Value Issues, of the Issues Paper on insurance released for comment by the IASC Steering Committee on Insurance. (June 6, 2000)
Fair Value Task Force comments on FASB paper, "Preliminary Views on major issues related to Reporting Financial Instruments and Certain Related Assets and Liabilities at Fair Value." (May 31, 2000)
Joint Risk Based Capital (RBC) Committee report to help in review of RBC for assets. (February 4, 2000)