Insurance Company Audits

Article:  ...ISSUE: How the profession should respond to legislation that requires insurers to have annual audited statutory financial reports of insurance companies. BACKGROUND: All states require domiciled insurance enterprises to submit to the state insuran
Published on March 18, 2011

Small Business Health Insurance Tax Credit should be Simplified, AICPA Testifies

Newsletter:  The AICPA testified at a Nov. 15, 2011 House Ways and Means Oversight Subcommittee hearing about the small business health insurance tax credit
Published on January 06, 2012

FASAB Accounting for Social Insurance - Comment Letter

Article:  ...AICPA recommends to the Federal Accounting Standards Advisory Board (FASAB) that once a final standard is issued for social insurance programs and effective several years, the board should evaluate whether additional steps should be taken to further improve the accounting and reporting for social insurance
Published on July 11, 2011

AICPA Proposes Revenue Ruling on S Corporation Shareholder Health Insurance Prumium Deduction

Comment Letter:  ...AICPA provides a proposed revenue ruling to clarify/modify existing guidance on circumstances in which an S corporation shareholder is entitled to an above-the-line deduction for health insurance premiums for the self-employed
Published on September 28, 2012

AICPA Comment Letter on FASAB Social Insurance

Article:  ...While there are certain aspects of the FASAB Exposure Draft, Accounting for Social Insurance, Revised - there are several significant aspects of the ED that concern the AICPA. Further details on this issue and previous comments submitted are provided
Published on July 11, 2011

AICPAs Testimony on Small Business Health Insurance Tax Credit - November 12, 2011

Testimony:  ...on Oversight, Committe on Ways and Means, U.S. House of Representatives, for a hearing on November 15, 2011 on the implementation and effectiveness of the small business health insurance tax credit. The credit was enacted
Published on April 05, 2012

November 30, 2010 AICPA comment letter on the IASB Exposure Draft - Insurance Contracts (the ED)

Comment Letter:  The Financial Reporting Executive Committee (FinREC), formerly known as the Accounting Standards Executive Committee (AcSEC), and the Insurance Expert Panel, both of the American Institute of Certified Public Accountants, appreciate the opportunity to comment on the IASB Exposure Draft – Insurance Contracts (the ED
Published on July 11, 2011

AICPA comments on section 4980H proposed regulations

Comment Letter:  The AICPA submitted comments on Notice of Proposed Rulemaking issued on the employer shared responsibiltiy for health insurance coverage
Published on March 14, 2013

AICPA Writes IRS about Proposed Rules on Employer Shared Responsibility for Health Insurance

Newsletter:  The CPA Advocate: March 27, 2013.  The AICPA made recommendations concerning the definitions of “dependent” and “full-time employee,” as well as the determination of “applicable large employer status” and the calculation of the number of “full-time employees.”
Published on March 27, 2013

Audits of FHA-Approved Participants and Related HUD Requirements

Article:  FHA proposes new rule to strengthen risk management and shift accountability for the underwriting of FHA-insured loans to the mortgage banks. It may no longer require FHA to approve loan correspondents (mortgage brokers) participating in the FHA program and HUD would no longer require FHA to submit audited financial statements or audits
Published on May 14, 2013

October 24, 2007 AICPA Testimony Before the Committee on Banking, Housing, and Urban Affairs of the U.S. Senate Subcommi...

Testimony:  October 24, 2007 AICPA Testimony Before the Committee on Banking, Housing, and Urban Affairs of the U.S. Senate Subcommittee on Securities, Insurance, and Investment
Published on March 12, 2010

The SIMPLE Cafeteria Plan Act of 2005 AICPA Comment Letter on S. 723

Comment Letter:  In a letter to the U.S. Senate, AICPA comments on S. 723, The SIMPLE Cafeteria Plan Act of 2005.
Published on April 30, 2013

IASB Comment Letter Archive

Comment Letter:  The AICPA takes opportunities to comment on Discussion Papers and other various standard setting items. Included are archived items.
Published on July 15, 2011

AICPA Supports New Law with Groundbreaking XBRL Reporting Requirement

Newsletter:  The CPA Advocate: October, 2011.  For the first time, a law signed Sept. 30 will require states to report to a federal agency how they spend federal dollars using nonproprietary standards such as XBRL.
Published on October 12, 2011

FASB Independence and Fair Value Accounting

Article:  The AICPA strongly and unequivocally supports independence of the U.S. and international accounting standard setting bodies, the Financial Accounting Standards Board (FASB) in Norwalk, Connecticut, and the International Accounting Standards Board (IASB) in London.
Published on April 03, 2013