volume 8, issue 2, P203-299 2002
DOI: 10.1017/s135732170000372x
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C.J. Hairs, D.J. Belsham, N.M. Bryson, C.M. George, D.J.P. Hare, D.A. Smith, S. Thompson

Abstract: A project to develop an Accounting Standard for Insurance, with the aim of enhancing understandability, relevance, reliability and comparability of general purpose financial reporting for insurance worldwide, is being progressed by the International Accounting Standards Board. The basis of the proposals is that assets and liabilities be shown at fair values (market values for quoted instruments). This paper, prepared by a Working Party established by the Life Board of the United Kingdom actuarial profession, …

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