Article on IFRS 17

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Jul 05, 2018

On July 5, 2018, the International Accounting Standards Board (the Board) published the article "Reducing the gap between insurance and other industries" by IASB® member Gary Kabureck.

The article outlines the similarities between IFRS 17 and other IFRS® Standards as regards the measurement of obligations at current value and the recognition of revenue as a company provides services to its customers. It concludes that the changes introduced by IFRS 17 will enable a wider range of users to understand insurers’ financial statements and compare them with the financial statements of companies within and outside the insurance industry.

Review the article on the Board's website.

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