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Insurance Accounting Newsletter — Issue 13, April 2010

Published on: 13 Apr 2010

This edition is titled Standard setting crunch time.

After an intense schedule of joint meetings discussing insurance in March, it now seems unlikely that the Exposure Draft on insurance accounting will be published in May as planned.  The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) met six times over two weeks in March and managed to discuss insurance accounting for a total of approximately twelve hours: a record since the beginning of the joint project.  Although the Boards reached several common tentative decisions, the hours of debate also resulted in a few but very significant disagreements on the subject of risk adjustment and day one calibration.


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