NEWS RELEASE 10/02/13

FASB to Hold Roundtable Meetings on Insurance Proposal

Norwalk, CT—October 2, 2013—The Financial Accounting Standards Board (FASB) will host public roundtable meetings on its June 27, 2013 Proposed Accounting Standards Update, Insurance Contracts (Topic 834).

The roundtable meetings are an important part of the FASB’s due process on the Exposure Draft. The meetings will provide an opportunity for those who have submitted a comment letter, or who still intend to submit a comment letter, to discuss the proposals with the FASB and the International Accounting Standards Board in further detail. To ensure that the Boards receive input covering a variety of perspectives, the Boards are seeking participation from preparers, auditors, investors, and others.

Information for those requesting to participate and for observers is available on the Insurance Contracts project page on the FASB website.

The December 2 roundtables will be webcast live on the FASB website. Additionally, audio recordings of both the December 2 and December 16 roundtable meetings will be made available shortly after each meeting on the FASB website.

The dates, times, and locations of each public roundtable meeting follow:

Monday, December 2, 2013
Location: FASB offices, 401 Merritt 7, Norwalk, Connecticut, 06856


Meeting times:
Session 1: 9:00 a.m. – 12:00 p.m. EST
Session 1 discussion will include topics specific to the Building Block Approach

Session 2: 1:00 p.m. – 4:00 p.m. EST
Session 2 discussion will include topics specific to the Premium Allocation Approach
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Monday, December 16, 2013
Location: Westin O’Hare Hotel, 6100 North River Road, Rosemont, Illinois, 60018


Meeting times:
Session 1: 9:00 a.m. – 12:00 p.m. CST
Session 1 discussion will focus on issues for nonpublic and medium-sized companies and organizations

Session 2: 1:00 p.m. – 5:00 p.m. CST
Session 2 discussion will include scope considerations and topics related to the Building Block Approach and Premium Allocation Approach

Those requesting to participate in the roundtables should complete and submit an electronic participant application form on the FASB website by Friday, November 1, 2013. Observer registration is required in advance; space is limited, so observer registrants will be accepted on a first come, first served basis.

For more information about the roundtables, visit www.fasb.org.


About the Financial Accounting Standards Board

Since 1973, the Financial Accounting Standards Board has been the designated organization in the private sector for establishing standards of financial accounting and reporting. Those standards govern the preparation of financial reports and are officially recognized as authoritative by the Securities and Exchange Commission and the American Institute of Certified Public Accountants. Such standards are essential to the efficient functioning of the economy because investors, creditors, auditors, and others rely on credible, transparent, and comparable financial information. For more information about the FASB, visit our website at www.fasb.org.