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Transition to IFRS 17 - April 2019

Transition to IFRS 17 - April 2019

Preparing the Market for IFRS 17.

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Brian Morrissey

Head of Insurance & Actuarial

KPMG in Ireland

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Board completes discussions on proposed amendments

Discussions about possible amendments to address stakeholders' concerns and implementation challenges have now concluded, giving insurers more clarity about proposed changes to IFRS 17 Insurance Contracts.

At its April 2019 meeting, the International Accounting Standards Board confirmed that it will propose that IFRS 17's effective date be deferred to 2022. An exposure draft to amend IFRS 17 is expected to be published in late June 2019. The Board also proposed some additional clarifying amendments to some of IFRS 17's requirements.

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