Podcast on IFRS 17

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Oct 26, 2018

On October 26, 2018, the International Accounting Standards Board (the Board) released a podcast on the discussions around IFRS 17, "Insurance Contracts" at their October 2018 meeting.

In the podcast, IASB® technical manager Roberta Ravelli interviews IASB Board member Darrel Scott. The interview is not so much about the details discussed by the Board, but more of a general and balanced assessment where the Board currently stands. During the meeting, the Board first discussed the criteria the IASB staff have developed for the Board to apply in assessing whether a concern warrants considering an amendment and then used these criteria in a kind of a test run against the 25 concerns/issues identified by the staff. However, no decisions were made.

By way of an outlook, Darrel Scott mentions in the interview that the IASB expects to make a decision in 1-2 months (the November meeting is rather early in the month and the deadline for the staff to submit papers would be at the end of next week). He also mentions that the Board would need to think about the effective date soon, as well as the implications changing the effective date would have.

Review the press release and listen to the podcast on the Board's website.

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