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October 2015 IASB Update - Insurance Contracts

  • IFRS - IASB Image

Oct 30, 2015

On October 30, 2015, the International Accounting Standards Board issued the Update summary of its meeting on October 20-22, 2015.

At its meeting on October 21, 2015, the IASB discussed: (i) the classification and measurement of financial assets on transition to the new insurance contracts Standard (including transition reliefs and disclosure requirements); (ii) restatement of comparative information on initial application of the new insurance contracts Standard; (iii) if the new insurance contracts Standard should retain the mirroring approach; and (iv) presentation and disclosures for insurance contracts. The IASB will continue its discussions on insurance contracts at a future meeting.

Review the IASB Update.

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