Amendments to IFRS 17 – International Accounting Standards Board
At its meeting on May 24-27, 2021, the IASB met to discuss feedback about one-time accounting mismatches and classification inconsistencies that may arise in the comparative information that insurance entities present on initial application of IFRS 17, Insurance Contracts and IFRS 9, Financial Instruments. The Board was not asked to make any decisions. At a future meeting, the Board will discuss whether to propose a narrow-scope amendment to IFRS 17 that would enable insurance entities to reduce such mismatches and inconsistencies.
Review the IASB Update and podcast on the Board's Web site.