• UK Endorsement Board adopts IFRS 17

UK Endorsement Board adopts IFRS 17

19 May 2022

The UK Endorsement Board (UKEB) has announced that it has approved the adoption of IFRS 17 Insurance Contracts for use by UK companies. It is the first major standard adopted by UKEB.

IFRS 17 is effective for annual periods beginning on or after 1 January 2023, with early application permitted for entities that apply IFRS 9 Financial Instruments on or before the date of initial application of IFRS 17.

The press release by UEKB may be accessed here.