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Links of Interest
- AcSEC Homepage
The Accounting Standards Executive Committee (AcSEC) is the senior
technical committee of the American Institute of Certified Public
Accountants(AICPA) authorized to set accounting standards and to speak for
the Institute on accounting matters.
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- Actuarial Standards of Practice
From the Actuarial Standards Board (ASB), an independent entity
established in 1988 as the single board promulgating standards of practice
for the entire actuarial profession in the United States.
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- Best's Review
A.M. Best's Review Insurance Issues & Analysis is an award–winning
monthly magazine covering the insurance industry.
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- FASB Homepage
The Financial Accounting Standards Board (FASB) establishes and improves
standards of financial accounting and reporting for the guidance and
education of the public, including issuers, auditors, and users of
financial information.
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- NAIC Life and Health Actuarial Task Force (LHATF)
- The Life and Health Actuarial Task Force (LHATF) establishes standards for statutory financial reporting
and for life and health contracts such as the determination of minimum non–forfeiture values and loss ratios.
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- International Solvency and Accounting (E) Working Group (Financial Condition (E) Committee)
- This NAIC Working Group monitors the developments of the International Accounting Standards Board (IASB) and the International Association of Insurance Supervisors (IAIS).
- This web page has links to committee documents.
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- American Academy of Actuaries' New Qualification Standard for Signing the Statutory Statement of Actuarial Opinion
Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States Including Continuing
Education Requirements Effective January 1, 2008
For purposes of the Qualification Standards, a "Statement of Actuarial Opinion" (SAO) is an opinion
expressed by an actuary in the course of performing Actuarial Services and intended by that actuary to be relied upon by the person or organization to which
the opinion is addressed.
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- Internal Revenue Notice: 2008–18
- The purpose of this notice is to alert life insurance companies to federal income tax issues that may arise as a result of the adoption of proposed Actuarial Guideline VACARVM (Proposed AG VACARVM) and/or a proposed principles–based approach for calculating statutory reserves for life insurance (Proposed Life PBR).
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- Internal Revenue Bulletin: 2004–41
- Guidance Concerning Use of 2001 CSO Tables Under Section 7702
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- Financial Reporting For Insurance Contracts Under Possible Future International Accounting Standards
- This report
presents modeling results of the possible impact of the IASB's preliminary views of accounting for insurance contract
liabilities on certain U.S. life and health insurance products.
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- Report on Market Consistent Embedded Value Principles
- This June 2008 report from the CFO forum describes MCEV Principles such as:
Principle 1: Market Consistent Embedded Value (MCEV) is a measure of the consolidated value of shareholders' interests in the covered business.
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- GNAIE
- The Group of North American Insurance Enterprises (GNAIE) consists of the Chief Financial Officers of eleven leading insurance companies including life insurers, property and
casualty insurers, and reinsurers. It focuses on international accounting standards and solvency. This web site has a calendar and news about the NAIC, IASB, IAIS and more.
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- Spreadsheets that define all of the examples shown in the US GAAP 2nd Edition Textbook
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