IASB SETS UP TRANSITION GROUP FOR IFRS 17

摘要

The International Accounting Standards Board (IASB) is to set up a transition resource group to support the implementation of IFRS 17 Insurance Contracts, which will be issued in May 2017. The long-awaited International Financial Reporting Standards (IFRS) insurance contracts framework is being issued as a completely new standard, replacing IFRS 4 Insurance Contracts. The current accounting regime for insurance contracts does not provide users with the information required to meaningfully understand the insurer's financial position, performance and risk exposure.