Read PwC's observations from the January 30, 2020 IASB meeting where the IASB extends the scope exclusion from IFRS 17 for some credit card contracts and provides an accounting policy choice related to interim reporting.
On 30 January 2020, the IASB (‘Board’) tentatively decided to modify its proposals in the Exposure Draft so that IFRS 17 would be amended:
The Board also tentatively decided to retain, unchanged, the requirements in IFRS 17 relating to:
The views in this In transition are based on our observations from the 30 January 2020 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