Life and Health Insurance Entities — AICPA Audit and Accounting Guide

This guide summarizes new standards, guidance, and practices, and delivers "how-to" advice for handling audit and accounting issues common to the insurance industry.

Updated with conforming changes as of May 1, 2011, the guide includes relevant guidance contained in official standards and other technical sources, including the FASB Accounting Standards Codification™. The guide offers clear and practical guidance on recent developments in areas such as risk assessment, fair value measurements, and internal controls. All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committee(s).

The following guidance is particularly significant to this guide and are reflected and discussed in detail:

• FASB ASU 2010-16, Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts
• SSAP No. 43R, Loan-backed and Structured Settlements – Revised
• SSAP No. 91R, Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities
• NAIC Revised Model Audit rule

For a topical listing of subject matter by chapter, click on the Table of Contents tab.