Financial Reporting Emerging Issues
The financial reporting section council has been asked to provide a list of "emerging issues" relevant to the work of an actuary practicing in this area. The council has compiled the following list:
- IFRS
- Fair Value Measurement
- Financial Instruments (revision of IAS 39)
- Insurance Contracts (phase II)
- Market Consistent Embedded Value
- Economic Capital
- Principle Based Approaches to Reserves and Capital
- US
- International
- US GAAP
- Accounting for Variable Annuity Guarantees
- Purchase Accounting
- Accounting for Internal Replacements
- DAC Amortization for Variable Products-modeling of living benefits for DAC model
- Disclosures
- Convergence with IFRS
- Applying Actuarial Guidelines
- Application of Stochastic Modeling
- Federal Regulation of Insurance in the US
- Emerging Issues of interest to Canadian actuaries
- IFRS
- Preparing for the 2011 Canadian effective date (key issue-product classification)
- Phase II
- Capital
- Review and modification of the MCCSR in light of the implementation of IFRS and the evolution capital standards
- Mortality improvement in life & annuity liabilities/capital
- Counterparty risk
- Currency risk
- Pandemic modeling
- Stochastic modeling-largely economic-interest/equity
Thank you for your anticipated assistance.