EFRAG agrees on IFRS 17 letter to IASB

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

04 Sep, 2018

At its 3 September meeting, the Board of the European Financial Reporting Advisory Group (EFRAG) agreed on a letter to the IASB regarding IFRS 17 'Insurance Contracts'.

EFRAG is currently in the process of preparing draft endorsement advice on IFRS 17 and in this context notes a number of concerns of its constituents. EFRAG has not yet determined the impact of these issues on the draft endorsement advice that is under preparation. However, as EFRAG also notes that the IASB is showing willingness to consider issues associated with the implementation of IFRS 17 and has already tentatively agreed small changes to the standard (to be dealt with as part of its annual improvements project), the EFRAG Board decided to bring the concerns of European constituents to the IASB's attention.

The letter agreed on yesterday can be downloaded here from the EFRAG website.

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