Insurance – AcSB
At its meeting on June 22-23, 2022, the AcSB considered whether it would be a priority to create a domestic insurance accounting standard. Through the information gathered to date, the Board understands that only a few entities are likely to be impacted. The Board also acknowledges the existence of well-established industry practices, including using actuarial guidance, in accounting for such insurance obligations under Part II and Part III of the Handbook. Considering other domestic priorities on its current work plan, the Board decided not to undertake standard-setting action at this time.
Review the Executive Summary on the AcSB's Web site.