The Insurance Accounting Standards Board (IASB) has proposed tentative amendments to address 25 concerns and implementation challenges raised by insurers. With IFRS 17 delayed by one year, now is not the time to take a risky path, slow down or pause project activities.
Duration 12m 30s
Will implementation plans change with a one-year delay in IFRS 17?
In this podcast, Kevin Griffith and Conor Geraghty discuss the tentative amendments to IFRS 17 and key issues that will require a response. Many of these topics for the new International Accounting Standard on Insurance Contracts have been covered at past IASB meetings, and EY has shared the findings. While progress was made in amending The Standard at the January 2019 meeting, questions still remain.
Insurers are at various stages in their preparation and it is important that they understand the implications of their decisions. The delay in timing has allowed many insurers to complete work that would not have been possible. Some have re-phased activities and others have become distracted by resource constraints or other projects. Sharing experiences and lessons learned will be valuable as the IASB continues to deliberate on key IFRS 17 topics.
Learn about recent IFRS 17 amendments and how this affects insurers.