Insurance contracts — Comprehensive project
The is a joint IASB-FASB project to undertake a comprehensive review of accounting for insurance contracts. The Board's objective is to a develop a common, high-quality standard that will address recognition, measurement, presentation and disclosure requirements for insurance.
Current status of the project
The IASB issued ED/2010/8 Insurance Contracts in December 2010 and the IASB and FASB are currently redeliberating the proposals. A targeted revised exposure draft is expected in the second quarter of 2013.
|September 2001||Added to the IASB's agenda|
|September 2004||Insurance Working Group appointed||Fresh start on the project|
|3 May 2007||Discussion Paper Preliminary Views on Insurance Contracts published||Comment deadline 16 November 2007|
|30 July 2010||Exposure Draft ED/2010/8 Insurance Contracts published||Comment deadline 30 November 2010|
|Fourth quarter 2010||Roundtables|