Initial Application of IFRS 17 and IFRS 9―Comparative Information – International Accounting Standards Board

Date recorded:

At its meeting on October 25-28, 2021, the IASB met to redeliberate the amendment to IFRS 17, Insurance Contracts, proposed in its Exposure Draft. The Board discussed and made tentative decisions with respect to: (i) the scope of the classification overlay; and (ii) other classification overlay matters relating to impairment and disclosures. All of the Board members confirmed they were satisfied the Board has complied with the applicable due process requirements and has undertaken sufficient consultation and analysis to begin the process for balloting the amendment to IFRS 17. No Board member indicated an intention to dissent from issuing the amendment to IFRS 17.

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.