IASB publishes proposed amendments to IFRS 17

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IASB publishes proposed amendments to IFRS 17

The International Accounting Standard Board (IASB) has published a draft proposing targeted amendments to IFRS 17 to respond to concerns and challenges raised by stakeholders as IFRS 17 is being implemented. Comments are requested by 25 September 2019.

IASB publishes proposed amendments to IFRS 17

The Board met on 15 May 2019 to conclude its deliberations before issuing the exposure draft of proposed amendments to IFRS 17 Insurance Contracts. At this meeting the Board received an update on the Transition Resource Group (TRG) for IFRS 17 Insurance Contracts, discussed technical issues for the Board to consider before finalising the exposure draft; and considered the comment period for the exposure draft.

 

Effective date

The proposed effective date for the amendments would be the same as the proposed new effective date for IFRS 17 (1 January 2022) with early application permitted. The amendments would be applied retrospectively.
 

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