The aim is to provide investors with more useful information
Proposed statement is intended to help issuers provide investors with clear and useful disclosure
Rating agency views FASB decision to abandon harmonization plans with IASB standards negatively
GHOS recently approved changes for more standardized accounting processes
Review finds widespread weaknesses in disclosure that may lead to investor confusion
Canadian insurers are not happy with the proposed changes
Implementation of proposed changes to international accounting standards for insurance contracts requires a longer transition period
New auditing standard would provide additional information to investors
PCAOB worried about the number and significance of deficiencies identified in audits of internal control at public companies
Changes could lead to greater volatility in insurers’ key financial measures