• Insurance outlook briefing: Charging ahead of recent developments in ORSA expectations

    At the recent National Association of Insurance Commissioners (NAIC) Spring 2014 national meeting, two new documents were approved for release as exposure drafts: the Draft Own Risk and Solvency Assessment (ORSA) Guidance for Financial Analysts and the Draft ORSA Guidance for Financial Examiners. While the documents are intended to be guidance for insurance department financial analysts and examiners, the guidance provides a window into expectations for the future.
  • Accounting update from the NAIC Spring 2014 meeting

    The National Association of Insurance Commissioners (NAIC) 2014 Spring National Meeting was held in Orlando, FL. A number of issues and statutory accounting changes, both substantive and nonsubstantive, were addressed over the course of the meeting. Highlights from some of the working group and committee meetings are summarized.
  • Companies Brace For New Rules Over Conflict Minerals

    A new SEC rule requires publicly traded manufacturers to disclose whether their products include minerals whose sale funded armed conflict in the Congo. The article discusses what companies are doing to comply with this challenging rule.
  • Public business entity definition

    In December 2013, the Financial Accounting Standards Board added a new definition to its master glossary with the issuance of Accounting Standards Update 2013-12, Definition of a Public Business Entity. The public business entity (PBE) definition will be used to determine which entities may apply the private company accounting and reporting alternatives within US generally accepted accounting principles (US GAAP) on a going-forward basis.