Posted: 2/29/2012
Financial Reporting Classification Analysis to Be Discussed
The NAIC Valuation of Securities Task Force has placed an SVO-staff-prepared document on its agenda for the NAIC Spring National Meeting. It is not uncommon that SVO-staff-prepared documents are controversial in terms of their suggestion; however, this document appears to be more in line with what NAMIC staff has been suggesting to key regulators on the task force for a period of time. Specifically, the document requires SVO staff to consider the authoritative requirements of the NAIC Accounting Practices and Procedures Manual before coming to any conclusion on classification analysis.