What is Statutory Accounting?
Statutory Accounting The accounting principles and methods prescribed by insurance regulators for financial reporting. Statutory accounting emphasizes solvency and conservative valuation of assets and liabilities. Required for regulatory filings in most jurisdictions.
Source: CFA Institute, IFRS Foundation, FASB (GAAP), Basel III Framework
How is “Statutory Accounting” Used in Practice?
Statutory accounting requires insurers to report assets and liabilities using conservative valuation rules set by regulators.
Certification Exam Relevance
Who Needs to Know This Term?
- Financial Analysts
- Bankers
- Traders
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What is Statutory Accounting?
The accounting principles and methods prescribed by insurance regulators for financial reporting. Statutory accounting emphasizes solvency and conservative valuation of assets and liabilities. Required for regulatory filings in most jurisdictions.
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