Illustrative life insurance group annual report prepared under UK GAAP (31 December 2007)
PricewaterhouseCoopers' annual report for a life insurance group is a practical guide to UK accounting law and best practice for insurers preparing their financial statements in accordance with the requirements of Schedule 9A to the Companies Act 1985. The illustrative annual report considers the requirements of relevant accounting standards, Urgent Issues Task Force Abstracts and other UK Generally Accepted Accounting Principles (GAAP).
The latest updated version is prepared as at 31 December 2007 and reflects the accounting requirements at that date including;
- FRS 26 'Financial Instruments: Measurement'
- Amendments to FRS 17 'Retirement Benefits'
This report can be used by preparers, reviewers and users of insurers' financial statements. It is worth noting that the suggested disclosure throughout is intended for guidance only and would not be applicable to all groups or to all companies.
If you wish to discuss any aspect of insurance financial reporting, please contact the author,
Mike Vickery, +0117 923 4222, or your usual PricewaterhouseCoopers contact.
