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IASB issues reporting back documents on insurance contracts (ED)

  • IASB (International Accounting Standards Board) Image

Apr 22, 2013

The IASB has issued two "reporting back" documents relating to its exposure draft (ED) on insurance contracts. The documents are working drafts prepared by the IASB staff that contain modifications from tentative decisions reached by the IASB during its meetings on insurance contracts.

Issued July 2010, the ED on insurance contracts provides guidance on a comprehensive framework, removes issues with existing practices (IFRS 4), and provides comparability across various markets.

The reporting back documents cover the following proposals:

  • Contracts with cash flows that vary with the returns on underlying items (including "participating," "universal life," "with profits," and "unit-linked" contracts).
  • Accounting for reinsurance contracts.

The reporting back documents, along with other resources related to the ED, are available on the IASB's Web site.

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