Description: Pension accounting standards continue to evolve across the globe with objectives, methods and assumptions varying, sometimes substantially, from one jurisdiction to the next. The presenters will compare the primary global pension accounting standards (US GAAP and IFRS), review recent developments and address whether or not the current standards adequately serve stakeholders such as plan participants, investors, management and regulators.

Description: A description of the Financial Reporting Section's priorities for 2016.

Description: This article is dedicated to the non-statutory accounting treatment of common credit risk exposures of life insurers but does not cover all aspects of non-statutory accounting standards. It introduces the concept of and the valuation of credit risks, concerning life insurers.

Description: This article is dedicated to the non-statutory accounting treatment of common credit risk exposures of life insurers but does not cover all aspects of non-statutory accounting standards. It introduces the concept of and the valuation of credit risks, concerning life insurers.

Description: The discount rate is one of the most critical topics in IFRS 17, which may have important repercussion on product profitability. Having a low discount rate may indicate a low profitability of a group of contracts, while a realistic expectation may differ. A similar issue was prevalent especially for U.S. companies when discount rates were set using a market consistent framework. The session is intended to help develop a discount rate framework that aligns with the business practices and address the concerns around the market consistent framework. This session will cover practical implementation considerations to set and apply IFRS 17 discount rates. The panelists will discuss alternative approaches to allow for a level of illiquidity premium for business supported by fixed assets with credit risks. Discussions will also cover other implementation considerations including granularity of setting the discount rate, application to new business, implications on asset and liability modeling, and a planning aspect for a successful implementation of the discount rate setting process. The panelists will share case studies to illustrate different approaches of setting the discount rate and their potential financial impacts. At the conclusion of the session, attendees will be able to: understand key requirements of setting discount rates under IFRS 17; understand how to align the discount rate to the actual business practices; understand implications of the discount rate in actuarial modeling; understand potential impacts on financial results; and develop a realistic plan to set discount rates appropriate to the business practices.

Description: Chairperson’s column discussing current events in financial reporting focusing on IFRS accounting proposals for insurance contracts.

Description: An overview of John Robinson's experience at the recently concluded annual meeting of the Caribbean Actuarial Association in Trinidad.

Description: In this article, the author discusses the impact of moving to International Accounting Standards in Taiwan.

Description: FASB has provided broad guidance for application of long-duration targeted improvements (LDTI) in Actuarial Standards Update 2018-12 for U.S GAAP financial reporting. However, the broad guidance provided leads to several interpretations and technology, data and system implementation challenges. During this session, the presenters will focus on sharing the technology, system and data challenges and insights gathered from their FASB LDTI implementation journey, including lessons learned from collaboration with other discipline areas and stakeholders such as finance, investment and IT. The presenters will also discuss methods to overcome challenges and go beyond compliance.

Description: Chairperson's Report- summarizing education and research activities for 2016 focusing on regulatory change including PBR and