EFRAG agrees on draft endorsement advice on IFRS 17 has been saved
EFRAG agrees on draft endorsement advice on IFRS 17
In a public meeting, the Board of the European Financial Reporting Advisory Group (EFRAG) agreed today to publish a draft endorsement advice (DEA) on IFRS 17 'Insurance Contracts'.
The Board achieved consensus on all issues with the exception of annual cohorts, with nine Board members voting in favour of the cohorts meeting the endorsement criteria and seven members disagreeing. The actual letter containing the DEA is not expected until October as questions to constituents still need to be agreed. Stakeholders will be given four months to comment on the DEA. A final advice will be aimed for by the end of March 2021.
EFRAG’s Draft Letter on IFRS 17 Insurance Contracts