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Proposed Statement Of Position On Confirmation Of Insurance Policies In Force : Audits Of Stock Life Insurance Companies;Confirmation Of Insurance Policies In Force : Audits Of Stock Life Insurance Companies Audits Of Stock Life Insurance Companies; Exposure Draft (American Institute Of Certified Public Accountants), 1978, Apr. 5, American Institute Of Certified Public Accountants. Auditing Standards Division
Proposed Statement Of Position On Confirmation Of Insurance Policies In Force : Audits Of Stock Life Insurance Companies;Confirmation Of Insurance Policies In Force : Audits Of Stock Life Insurance Companies Audits Of Stock Life Insurance Companies; Exposure Draft (American Institute Of Certified Public Accountants), 1978, Apr. 5, American Institute Of Certified Public Accountants. Auditing Standards Division
Exposure Drafts, Comment Letters, and Statements of Position
The audit guide suggests confirmation of insurance policies in force directly with policyholders; however, the audit guide does not discuss circumstances when confirmation would be appropriate and, as a result, practice has varied. The purpose of the Statement of Position is to identify those circumstances in which the independent auditor ordinarily should confirm insurance policies in force. This Statement of Postiion is applicable to both stock and mutual life insurance companies.
Proposed Statement Of Position On Accounting For Title Insurance Companies : A Proposed Recommendation To The Financial Accounting Standards Board;Accounting For Title Insurance Companies; Exposure Draft (American Institute Of Certified Public Accountants), 1978, May 1, American Institute Of Certified Public Accountants. Accounting Standards Division
Proposed Statement Of Position On Accounting For Title Insurance Companies : A Proposed Recommendation To The Financial Accounting Standards Board;Accounting For Title Insurance Companies; Exposure Draft (American Institute Of Certified Public Accountants), 1978, May 1, American Institute Of Certified Public Accountants. Accounting Standards Division
Exposure Drafts, Comment Letters, and Statements of Position
In recent years, accountants, investors, and other users of financial statements have expressed concern over the acceptability of accounting alternatives for similar business transactions. The accounting standards division believes that it is not desirable to have acceptable accounting alternatives in the title insurance industry. Therefore, this statement of position expresses the division's recommendations on accounting methods that should be used in the areas in which accounting alternatives exist.
Proposed Statement Of Position On Accounting For Investments Of Stock Life Insurance Companies;Accounting For Investments Of Stock Life Insurance Companies; Exposure Draft (American Institute Of Certified Public Accountants), 1978, Aug. 4, American Institute Of Certified Public Accountants. Insurance Companies Committee
Proposed Statement Of Position On Accounting For Investments Of Stock Life Insurance Companies;Accounting For Investments Of Stock Life Insurance Companies; Exposure Draft (American Institute Of Certified Public Accountants), 1978, Aug. 4, American Institute Of Certified Public Accountants. Insurance Companies Committee
Exposure Drafts, Comment Letters, and Statements of Position
In 1972, the AICPA Insurance Companies Committee issued the industry audit guide, Audits of Stock Life Insurance Companies (referred to in this statement of position as "guide"). Part II of the guide, which discusses the application of generally accepted accounting principles, includes a section on the "Valuation of Investments and Recognition of Realized and Unrealized Gains (Losses) Thereon." That section (p. 89) outlines five acceptable methods of accounting for gains or losses on the sale of all equity securities except preferred stocks. The accounting standards division believes that it is not desirable to have five alternative accounting methods for accounting …