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Insurance Accounting Alert - IASB meeting (May 2019)
IASB agrees further amendments to IFRS 17 Insurance Contracts and a 90-day ED comment period.
At the May Board meeting, the International Accounting Standards Board (IASB or the Board) concluded its planned deliberations on amendments to IFRS 17 Insurance Contracts, tentatively deciding to make amendments related to four ‘sweep issues’. The Board agreed to a comment period of 90 days for the ED of the proposed amendments to the standard. The papers prepared by the IASB staff for the meeting also included a summary of the April meeting of the IASB’s transition resource group for IFRS 17 (TRG).