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
Implementation Issues for Credit Losses (CECL):
- Credit Loss Issue #34: Considerations Related to ASC Topic 326: Financial Instruments - Credit Losses, for Reinsurance Recoverables
- Credit Loss Issue #44: Considerations Related to ASC Topic 326: Financial Instruments - Credit Losses, for Premiums Receivable
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.
Expert Panel Recommended Guidance
Kim Kushmerick, Associate Director
Members of the Expert Panel
Steve Belcher (Chair), MetLife Insurance Company
Akwasi Ampofo, Prudential Financial Inc.
James Atkinson, Chubb Group
Jennifer Austin, KPMG LLP
Tom Barbieri, PWC LLP
Gregg Ewing, Ameriprise Financial
Bridget Lenz, The Allstate Corporation
Sarah McConnell, Johnson Lambert LLP
Phil Pennino, Nationwide Insurance Company
Girish Ramanathan, Assurant, Inc.
Kevin Ryals, Dixon Hughes Goodman LLP
Arthur Salvadori, Crowe LLP
Greg Schlaefer, Ernst & Young LLP
Rick Sojkowski, Deloitte LLP