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The International Accounting Standards Board (IASB) has been considering amendments to the published IFRS 17 accounting standard for insurance contracts.
An exposure draft was published by the IASB in June 2019 which acted to re-open the standard. The IASB has reached a series of important decisions, including amendments to the May 2017 document, ahead of the publication of a revised standard scheduled to take place by 30 June 2020.
In its new Best’s Commentary, “IFRS 17: IASB Decisions Impact Insurers and Users of Accounting Data”, AM Best has reviewed some of the IASB’s recent decisions to consider how they will affect (re)insurers’ reporting under IFRS 17 and their implications for users of (re)insurers’ financial reporting.
A full complimentary copy of this commentary is available via the following link:
Best’s Commentary: IFRS 17 – IASB Decisions