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March 2015 ASAF meeting notes on insurance contracts

  • ASAF meeting (mid blue) Image

30 Mar 2015

The Accounting Standards Advisory Forum (ASAF) in London on 26–27 March 2015. We have posted the Deloitte observer notes from the session on insurance contracts.

The meeting discussed a presentation from the Accounting Standards Board of Japan (ASBJ), which proposed that the contractual service margin (CSM) of an insurance contract should be presented in the accumulated balance of other comprehensive income (AOCI), and sought the ASAF’s advice on specific issues relating to the new insurance contracts Standard as the earliest possible mandatory date of this Standard will be after the mandatory effective date of IFRS 9 Financial Instruments. Please click through for direct access to the notes.

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