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IASB Meeting — 23 January 2019

Start date:

End date:

Location: London

IASB (International Accounting Standards Board)

Overview

The IASB met on Wednesday 23 January 2019.  

The Board continued to assess concerns and implementation challenges raised by stakeholders about the requirements in IFRS 17 Insurance Contracts. At this meeting the Board considered four issues: insurance acquisition cash flows for renewals outside the contract boundary; reinsurance contracts held—onerous underlying insurance contracts; reinsurance contracts held—underlying insurance contracts with direct participation features; and recognition of the contractual service margin in profit or loss in the general model. In all cases the Board decided to propose amendments to IFRS 17.  

The Board decided to proceed with the publication of an Exposure Draft to amend IAS 12 Income Taxes, in relation to the deferred tax on assets and liabilities arising from a single transaction. 

The staff also gave oral updates on the projects on Rate-regulated Activities and Extractive Activities.

 

Agenda for the meeting

Wednesday 23 January 2019 (10:00-15:30)

  • Extractive Activities
  • Rate Regulated Activities
  • Implementation Matters
    • IFRIC Update
    • Deferred tax related to assets and liabilities arising from a single transaction (Amendments to IAS 12)
  • Amendments to IFRS 17 Insurance Contracts
    • Insurance acquisition cash flows for renewals outside the contract boundary
    • Reinsurance contracts held
    • Recognition of the contractual service margin in profit or loss in the general model

Agenda papers for this meeting are available on the IASB's website.

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