Are GAAP disclosures required in statutory-basis financial statements? Not all auditors are on the same side of the argument. Bill Rosenberger, leader of JLK Rosenberger’s insurance practice, answers the question citing AU-C 800 — Special Considerations – Audits of Statements Prepared in Accordance with Special Purpose Frameworks, EITF 03-1, and the INT 04-01 Applicability of New GAAP Disclosures Prior to NAIC Consideration.
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