IASB posts webinar on IFRS 4 and IFRS 9

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03 Jun, 2016

The IASB has posted to its website a webinar on the application of the new accounting requirements for financial assets by insurers.

The webinar — hosted by IASB board members Martin Edelmann and Sue Lloyd, along with IASB senior technical manager Joanna Yeoh — responds to some companies’ concerns about the timing of the implementation of IFRS 9 Financial Instruments and the forthcoming insurance contracts standard and the related consequences. The IASB has confirmed that it will issue amendments to IFRS 4 that:

  • give companies that issue insurance contracts the option to remove from profit or loss the volatility that may be caused by certain changes in the measurement of financial assets when applying IFRS 9 before the new insurance contracts standard; and
  • give companies whose predominant activities are insurance-related an optional temporary exemption from applying IFRS 9 until 2021.

The webinar and slides are available on the IASB's website.

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