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.