About the Expert Panel
The Insurance 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 insurance industry to deliberate and come to agreement on key insurance issues.
Expert Panel Projects
Revisions to the AICPA Insurance Audit and Accounting Guides to address application of AU-C 800, Special Considerations—Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks, to financial statements prepared in accordance with the insurance statutory basis of accounting:
- Chapter 3: Sources of Accounting Principles and Reporting Requirements, of the AICPA Audit and Accounting Guide Life and Health Insurance Entities
- Chapter 1: Nature, Conduct, and Regulation of the Business, of the AICPA Audit and Accounting Guide Property and Liability Insurance Entities
FinREC and the Insurance Expert Panel have recently submitted the following comments to the standard setting bodies:
- December 14, 2016, comment letter on the Proposed Accounting Standards Update (ASU), Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts
- November 27, 2013, comment letter on the Financial Accounting Standards Board’s Exposure Draft—Insurance Contracts
- November 27, 2013, comment letter on the International Accounting Standards Board’s Exposure Draft—Insurance Contracts
The expert panel participated in a live webcast on Current GAAP and Statutory Issues for Insurance Entities. An archive of this webcast is available online.
AICPA NAIC Task Force:
- Best Practices, for both insurance regulators and CPA firms, to consider when providing insurance regulators access to audit documentation.
- AICPA NAIC Comment Letter to the NAIC on SSAP No. 101
Past Meeting Highlights
Kim Kushmerick, Technical Manager
Expert Panel Recommended Guidance
Members of the Expert Panel
Steve Belcher (Chair), MetLife Insurance Company
Akwasi Ampofo, MassMutual
James Atkinson, Chubb Group
Jennifer Austin, KPMG LLP
Tom Barbieri, PWC LLP
Jim Greisch, RSM US LLP
Margie Keeley, The Hartford Financial Services Group
Bridget Lenz, The Allstate Corporation
Sarah McConnell, Johnson Lambert LLP
Phil Pennino, Nationwide Insurance Company
Girish Ramanathan, AIG
Kevin Ryals, Dixon Hughes Goodman LLP
Greg Schlaefer, Ernst & Young LLP
Rick Sojkowski, Deloitte LLP
Learn more about the Expert Panel members by reading their biographies.