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This exposure draft provides guidance on certain significant aspects of internal accounting controls and auditing procedures for life reinsurance. For ceded reinsurance, this exposure draft provides guidance on internal accounting controls and related auditing procedures regarding the evaluation of the assuming company's financial responsibility and stability. For assumed reinsurance, the draft provides guidance on internal accounting controls and related auditing procedures regarding the assessment of the accuracy and reliability of data received from the ceding company. The draft also provides guidance on the auditor's test of selected reinsurance contracts, transactions, and related balances.
Insurance -- Accounting -- Standards; Reinsurance -- Accounting; Insurance, life -- Auditing -- Standards -- United States
Accounting | Taxation
American Institute of Certified Public Accountants. Reinsurance Auditing and Accounting Task Force, "Proposed statement of position : auditing life reinsurance;Auditing life reinsurance; Exposure draft (American Institute of Certified Public Accountants), 1984, April 30" (1984). Statements of Position. 470.