NU Online News Service, Aug. 1, 2:52 p.m.EDT
Proposed changes to insurance-contract accounting standards arerunning into delays amid vocal opposition, but whatever finalconclusions ultimately emerge, they are unlikely to have a broadimpact on credit ratings since new rules, by themselves, do notalter the economic position of an entity, according to Moody's.
The joint accounting project between the InternationalAccounting Standards Board (IASB) and the U.S. Financial AccountingStandards Board (FASB) drew support from Moody's earlier in the year. The rating agencysaid at the time that it believes "investors are well served byefforts to develop a single set of high-quality accountingstandards for insurance contracts."
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