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Amendments to IFRS 17 – International Accounting Standards Board

Date recorded:

At its meeting on March 12-14, 2019, the Board met to consider possible amendments to IFRS 17 relating to the following topics:

  1. level of aggregation;
  2. credit cards that provide insurance coverage;
  3. transition requirements—risk mitigation option;
  4. transition requirements—loans that transfer significant insurance risk;
  5. amendments to disclosure requirements resulting from the Board’s tentative decisions to date; and
  6. other implications for disclosure and transition requirements.

The Board tentatively decided to amend the requirements of IFRS 17 in respect of all of these items except for items (i) and (vi).

At its April 2019 meeting, the Board plans to consider the package of amendments tentatively decided by the Board as a whole. At that meeting the Board will consider whether:

  1. on the whole, the benefits of the amendments outweigh the costs; and
  2. on the whole, the amendments do not unduly disrupt implementation.

At the same meeting, the staff expect to request Board’s permission to start the balloting process for the proposed amendments to IFRS 17.

Review the IASB Update and podcast on the Board's Web site.

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