Insurance Accounting Newsletter — Issue 16, July 2010

Published on: 15 Jul, 2010

This edition is entitled Last minute convergence.

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FAS) held three special meetings as well as the normal Board monthly meeting in June.  A total of eighteen hours were spent discussing insurance accounting during the special meetings (1, 10 and 23 June) and the regular meetings (15-17 June); a clear sign of the two Boards' commitment to finalise the Exposure Draft of IFRS 4 Phase II.  The results of these meetings have been significant as the Boards resolved a number of major long standing disagreements.  As we go to print, we are not expecting further public Board meetings to take place before the the Boards vote on the ED.


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