IFRS 17 Podcast on January 2020 IASB Meeting Released
06 February 2020
The IASB has issued a 10 minute podcast summarising the results of the IASB’s January 2020 activities on IFRS 17, which focused on deliberating several of the topics under consideration for amendments to IFRS 17. The Board tentatively concluded to amend IFRS 17 for the following topics:
- Scope exclusion for credit cards;
- Interim reporting and the introduction of an accounting policy choice regarding estimates made in an interim period; and
- Recognition and measurement of insurance acquisition cash flows as at the date of transition to IFRS 17.
The Board tentatively concluded to not amend IFRS 17 for the following topics:
- Insurance contracts acquired in the settlement period in a business combination; and
- The prohibition from applying the risk mitigation option retrospectively.
The Board expects to issue amendments to IFRS 17 in Q2 of 2020.
The podcast may be accessed here.