On 11 December 2019, the IASB (‘Board’) discussed eight of the 19 topics that it decided it would consider in its re-deliberations of the proposals in the Exposure Draft, ‘Amendments to IFRS 17’ (‘ED’). The Board tentatively decided to finalise six amendments without substantive re-deliberation, as agreed at the November 2019 meeting. The Board also:
The Board noted that it expects to consider the proposed effective date of IFRS 17 and the proposed extension of the IFRS 9, ‘Financial Instruments’, temporary exemption in IFRS 4, ‘Insurance Contracts’ towards the end of its re-deliberations.
The views in this In transition are based on our observations from the 11 December 2019 meeting, and they might differ in some respects from the official report of the meeting that will be published by the IASB in an IASB Update at a later date.
US Insurance Practice Leader, PwC US
Richard de Haan
Global Actuarial Leader, PwC US
Managing Director, National Professional Service Group, PwC US