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DPOC to discuss comment period for IFRS 17 amendments

  • DPOC meeting (mid blue) Image

17 Apr 2019

In a conference call on 23 April 2019, the Due Process Oversight Committee (DPOC) will discuss the comment letter period for proposed targeted amendmentsto IFRS 17 'Insurance Contracts'. The staff is seeking the approval of the DPOC for a shortened comment period of 90 days for the forthcoming exposure draft.

At its April 2019 meeting, the Board gave the staff permission to begin the balloting process for an exposure draft of proposed amendments to IFRS 17. The comment letter period is to be discussed at the May 2019 meeting of the Board.

The staff argues that the matter is narrow in scope and urgent, thus the Board might want to consider a period of less than 120 days. As the comment period needs to strike a balance between the need to allow stakeholders time to consider the proposals and provide further input to the Board and timely finalisation of the amendments, the staff intends to propose that the Board sets a comment letter period of 90 days.

The papers for the conference call have been made available on the IASB website.

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