About the Expert Panel
The Health Care Expert Panel serves the needs of AICPA members on financial and business reporting and audit and attest matters. The expert panel protects the public interest by bringing together knowledgeable parties in the health care industry to deliberate and come to agreement on key health care issues.
Learn more about the Health Care Expert Panel at the AICPA Insights blog. The article titled "What Is the AICPA’s Health Care Expert Panel and What Do They Do?" presents a comprehensive look at who the Expert Panel is and the way they operate.
Expert Panel Projects
Listen to a Podcast Discussion on FASB Accounting Standards Update No. 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made
FASB ASU No. 2018-08 was issued in June 2018 and included rapid adoption dates to align as closely as possible to the new revenue recognition adoption requirements. The standard was issued to make it easier for not-for-profit and other organizations, including healthcare entities, to evaluate whether gifts, grants or contracts should be accounted for as contributions—subject to FASB Accounting Standards Codification (ASC) 958, Not-for-Profit Entities—or as reciprocal (exchange) transactions accounted for under other topics such as FASB ASC 606, Revenue from Contracts with Customers. Further, the standard provides additional considerations for determining if a contribution is conditional. Listen to a discussion on the standard, including some questions and observations that have come up specific to the healthcare industry’s adoption of this clarified guidance around grants and contributions.
FASB Accounting Standards Update 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, Replaces the Not-for-Profit Reporting Model That Has Existed for 20 Years
After more than three years of debate, comment, and revision, FASB ASU No. 2016-14 was released in August 2016. The ASU will change the way all not-for-profits (NFPs) classify net assets and prepare financial statements. To view the standard in its entirety, visit the FASB's website here.
Adoption of FASB ASU No. 2016-14 will result in significant changes to financial reporting and disclosures for NFPs. FASB believes the update will improve NFP financial statements and provide more useful information to donors, grantors, creditors, and other financial statement users. The standard is effective for annual financial statements issued for fiscal years beginning after December 15, 2017 and for interim periods within fiscal years beginning after December 15, 2018.
Firms, NFPs, and their boards of directors will soon see some changes to NFP financial statements as a result of recent FASB ASU No. 2016-14. This ASU was presented to simplify the net asset classification requirements and improve the information presented in financial statements and notes about an NFP’s liquidity, financial performance and cash flows. More information, including supplemental health care disclosure examples, is available in the Exploring FASB’s Not-for-Profit Financial Reporting Standard: ASU 2016-14 Toolkit.
NFPs with conduit bonds are often subject to the accelerated effective dates and expanded disclosure requirements required of public entities under certain FASB standards. This article discusses recent Technical Questions and Answers (TQAs) that clarify certain terms related to the definition of public business entity, as not all conduit bonds fit the characteristics that subject NFPs to these requirements.
ASB Issues SAS No. 133 on Exempt Offering Documents
The Auditing Standards Board issued SAS No. 133, Auditor Involvement with Exempt Offering Documents (AICPA, Professional Standards, AU-C sec. 945), to address the auditor’s responsibilities with respect to all exempt offerings of securities undertaken pursuant to federal and state securities laws, and similar laws governing franchise offerings. AU-C section 925, Filings With the U.S. Securities and Exchange Commission Under the Securities Act of 1933 (AICPA, Professional Standards), addresses other offerings. Prior to the issuance of SAS No. 133, the AICPA provided best practices specific to issuances of municipal securities in industry-specific auditing guidance appearing in the AICPA Audit and Accounting Guides, State and Local Governments and Health Care Entities. SAS No. 133 amends AU-C section 560, Subsequent Events and Subsequently Discovered Facts (AICPA, Professional Standards), and AU-C section 925, and becomes effective for exempt offering documents with which the auditor is involved that are initially distributed, circulated, or submitted on or after June 15, 2018.
Technical Questions and Answers
Developed by the AICPA Health Care Expert Panel, the following Technical Questions and Answers (TQA) have been issued to provide nonauthoritative guidance regarding 1) how a health care entity should account for costs incurred in connection with the implementation of ICD-10, and 2) potential issues raised in connection with the implementation of Accounting Standards Update No. 2010-24, Presentation of Insurance Claims and Related Insurance Recoveries (a consensus of the FASB Emerging Issues Task Force):
- 6400.48 - Accounting for Costs Incurred During Implementation of ICD-10
- 6400.49 - Presentation of Claims Liability and Insurance Recoveries—Contingencies Similar to Malpractice
- 6400.50 - Accrual of Legal Costs Associated With Contingencies Other Than Malpractice
- 6400.51 - Presentation of Insurance Recoveries When Insurer Pays Claims Directly
- 6400.52 - Insurance Recoveries From Certain Retrospectively Rated Insurance Policies
Consult AICPA Technical Questions and Answers for the full text of all technical staff questions and answers issued by the AICPA.
Members of the Expert Panel
Norman C. Mosrie (Chair), DHG Healthcare
Jay D. Adkisson, RSM US LLP
Steven R. Blake, Avanti Hospitals, LLC
Douglas M. Coffman, West Virginia University Health System
Brian P. Conner, Moss Adams
Martha Garner, PricewaterhouseCoopers LLP
John P. Gaspich, Jr. Penn State Health
William “Jody” Love, KPMG LLP
Kimberly K. McKay, BKD, LLP
Lindsey Roe, EY LLP
Steven Shill, BDO
Dawn M. Stark, Plante Moran
Karen Van Compernolle, Deloitte
Learn more about the Expert Panel members by reading their biographies.