volume 9, issue 05, P1007-1044 2003
DOI: 10.1017/s135732170000444x
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P. K. Clark, P. H. Hinton, E. J. Nicholson, L. Storey, G. G. Wells, M. G. White

Abstract: The International Accounting Standards Board is undertaking a project to develop an Accounting Standard for Insurance. The basis for these proposals is that assets and liabilities should be shown at fair values (market values for quoted instruments). This is an updated version of a paper, prepared by a Working Party established by the General Insurance Research Organisation (GIRO) of the General Insurance Board of the actuarial profession of the United Kingdom, which was first presented to the GIRO Conference …

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