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AICPA Audit and Accounting Guide: Life and Health Insurance Entities

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ABSTRACTPrefaceChapter 1 — Overview of the Life and Health Insurance IndustryChapter 2 — Characteristics of Life and Health Insurance ProductsChapter 3 — Sources of Accounting Principles and Reporting RequirementsChapter 4 — General Audit ConsiderationsChapter 5 — Auditing Inforce Files” section of the preface to this guide for a discussion of the definitions of issuers and nonissuers as used throughout this guide. Considerations for audits of issuers in accordance with PCAOB standards may be discussed within this guide’s chapter text. When such discussion is provided, the related paragraphs are designated with the following title: Considerations for Audits Performed in Accordance With PCAOB Standards. PCAOB guidance included in an AICPA Guide has not been reviewed, approved, disapproved, or otherwise acted upon by the PCAOB and has no official or authoritative status.Chapter 6 — Insurance RevenuesChapter 7 — Liabilities for Future Policy Benefits (Statutory Policy Reserves) and Other Contract LiabilitiesChapter 8 — Benefit and Claim PaymentsChapter 9 — Commissions, General Expenses, and Deferred Acquisition CostsChapter 10 — InvestmentsChapter 11 — ReinsuranceChapter 12 — Taxation of Life Insurance EntitiesChapter 13 — Other Assets and Liabilities, Lending and Financing, Surplus Notes, Separate Accounts, Insurance Related Assessments and Equity Contract Holders’ SurplusChapter 14 — Reports on Audited Financial StatementsAppendix A — Accounting for Financial InstrumentsAppendix B — The New Leases Standard: FASB ASC 842Appendix C — Overview of Statements on Quality Control StandardsAppendix D — The New Revenue Recognition Standard: FASB ASC 606Appendix E — Life & Health Insurance Entity Specific DisclosuresAppendix F — List of Industry Trade and Professional Associations, Publications, and Information ResourcesAppendix H — Schedule of Changes Made to the Text From the Previous EditionAppendix G — FASB ASU No. 2018-12: Financial Services—Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts, Accounting Implementation PapersGlossaryIndex of Pronouncements and Other Technical GuidanceSubject Index