IFRS insurance accounting newsletter

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13 Oct 2009

Deloitte (United Kingdom) has published the October 2009 issue of Insurance Accounting Newsletter.

This issue is titled The New Accounting Model Takes Shape and focuses on the key decision made by the IASB in September 2009 to adopt (by a bare majority vote of 8 out of 15) the 'Updated IAS 37 Model' rather than the 'Current Fulfilment Value Model'. The latter received unanimous support from the US FASB earlier in the year. The newsletter describes important features of the Updated IAS 37 Model and notes that IASB intends to publish an exposure draft before the end of the year 2009, with a five-month comment period ending in May 2010. An appendix to the newsletter includes a tabular summary of the tentative decisions to date, showing the issues on which the views of the IASB and the FASB agree, issues on which the views of the two Boards diverge, and IASB decisions not yet discussed by the FASB. Click to download Issue 8 of the Insurance Accounting Newsletter (PDF 141k). There are permanent links all issues of the newsletter on IAS Plus Insurance Project Page.


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