Contributor: Dave Zdechlik
I’ve spent much of the past month reading dozens of “Predictions for 2013” articles, including those on what the stock market will do, business intelligence trends, social media predictions, even forecasts for the sports world. After all this reading, I’ve come to one conclusion: no one really has a clue what’s going to happen in 2013, just like no one could have predicted the biggest events of 2012.... read more
Contributor: Dave Zdechlik
During the recent iWorks Summit client event at the Phoenician Resort in Scottsdale, Arizona, it occurred to me that our thought leadership efforts are resonating with clients. Thanks in part to our work in webinars, in regulatory review sessions, and in thought leadership articles and blogs, our clients are becoming keenly aware of the Solvency Modernization Initiative (SMI) and the impact it may have on their businesses. What they might not know is how the SMI came to be, and the specific actions the National Association of Insurance Commissioners (NAIC) is reviewing.... read more
Contributor: Dave Zdechlik
In my last blog, I discussed that IFRS is coming and it will affect many facets of your organization…not just the accounting department. It focused on assessing how IFRS may affect your organization and some ideas as to what type of planning could take place now. Within this blog I wanted to discuss a topic that should definitely be part of our IFRS planning but may only come to our mind in a general sense when pondering IFRS. Regarding IFRS, we normally think about the accounting pronouncement(s) that may affect our organization. For example, what will our financial statements look like, what new software will be required for our accounting system…etc. But what about our human capital?... read more
Contributor: Dave Zdechlik
I don’t think Paul Revere was very worried about IFRS in 1775; however today, as with the British back then, IFRS is coming. We keep hearing about the SEC decision in 2011. What does that really mean? As mentioned in last month’s blog post, if the SEC decides to require IFRS prepared financial statements, the talk is that 2015 would be the first year of IFRS only financial statements (the first year of no dual reporting of GAAP and IFRS). However, don’t be deceived, the SEC requires three years of comparative financial statements which means 2013 would be the first year of financial statements prepared under IFRS.... read more
Contributor: Dave Zdechlik
Last month, my blog post discussed the current status of the Securities and Exchange Commission’s (SEC) review of International Financial Reporting Standards (IFRS), with the goal of providing an overview of the issues and likely timeframe for an announcement. Today, the focus is on convergence and the implications this has for insurers.... read more
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