This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Amendments to IFRS 17 – International Accounting Standards Board

Date recorded:

At its meeting on March 17, 2020, the IASB met to complete its discussions of the feedback on its Exposure Draft. The Board tentatively decided:

  1. to defer the effective date of IFRS 17 incorporating the amendments to annual reporting periods beginning on or after January 1, 2023; and
  2. to extend the fixed expiry date of the temporary exemption in IFRS 4 from applying IFRS 9 to annual reporting periods beginning on or after January 1, 2023.

All of the Board members confirmed that they were satisfied that the Board has complied with the applicable due process requirements and has, in particular, undertaken sufficient consultation and analysis to begin the process for balloting the amendments to IFRS 17 and the amendment to IFRS 4. No Board members indicated they intend to dissent from the issuance of the amendments to IFRS 17 and the amendment to IFRS 4. The Board expects to issue the amendments to IFRS 17 in the second quarter of 2020.

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

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.