IASB sets out its plan to finalize amendments to IFRS 17 by mid-2020

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In transition , PwC US Nov 21, 2019

The IASB considered a summary of the comment letters received on the Exposure Draft ‘Amendments to IFRS 17’ and set out its plan to finalize amendments by mid-2020.

Overview

On 20 November 2019, the IASB (‘Board’) considered a summary of the 122 comment letters and overall feedback received on the Exposure Draft ‘Amendments to IFRS 17’. The Board also decided on a plan to finalise the amendments to IFRS 17 by mid-2020, consistent with the timetable indicated in the Exposure Draft.

The Board tentatively decided that it would:

●       confirm 6 topics at a future meeting, without substantive re-deliberation;

●       consider further the feedback from respondents on 13 topics; and

●       not consider 14 topics any further.

No technical decisions were taken at this meeting. 

The views in this In transition are based on our observations from the 20 November 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.

To have a deeper discussion, contact:

Donald Doran

Partner, National Professional Services Group, PwC US

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Marie Kling

Partner, National Professional Service Group, PwC US

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Mary Saslow

Managing Director, National Professional Service Group, PwC US

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Mary Saslow

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