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IASB begins "soft launch" of insurance accounting proposals

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17 Nov 2001

IASB has released three sections of a Draft Statement of Principles (DSOP) on Insurance Contracts.

The sections deal with the scope of the project, definition of an insurance contract, recognition and derecognition principles, and measurement objectives. The DSOP was developed by a steering committee for consideration by the IASB. While the draft is not a formal IASB discussion document, IASB has invited those who wish to comment to send their views directly to the project manager. You can download the draft on IASB's Website. IASB plans to post further sections of the DSOP as drafting is completed.

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