In this Exposure Draft, the International Accounting Standards Board (Board) proposes targeted amendments to IFRS 17 Insurance Contracts, issued in May 2017 to respond to concerns and challenges raised by stakeholders as IFRS 17 is being implemented.
IFRS 17 is needed to address many inadequacies in the wide range of insurance accounting practices used applying IFRS 4 Insurance Contracts and significant implementation activities are already underway. The Board has considered the concerns and challenges raised by stakeholders and concluded that the potential costs of proposing targeted amendments to IFRS 17 could be justified if those amendments would provide meaningful support to entities implementing the Standard and if those amendments:
Invitation to comment
ASB invites comments on the Exposure Draft from the public. The downloadable version is available at: https://resource.cdn.icai.org/55658asb45035.pdf
How to comment
Comments should be submitted using one of the following methods, so as to be received not later than August 16, 2019.
Visit at the following link (Preferred method):
Comments can be sent to: firstname.lastname@example.org
Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi 110 002
Further clarifications on this Exposure Draft may be sought by e-mail to email@example.com