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IFRS 17: Clarity on approach to amendments

At its November meeting, the International Accounting Standards Board (the Board) reviewed feedback on the exposure draft (ED) Amendments to IFRS 17 and decided on a re-deliberation plan.

The plan contains four categories, as follows:

  • Proposed amendments to be confirmed by the Board at a future meeting: these are the amendments that the Board will be asked to confirm, as worded in the ED, at a future date.
  • Topics that will not be considered further by the Board: these are some of the topics that stakeholders commented on that were outside the questions asked by the ED.
  • Topics that will be considered further by the Board, including topics within and outside the questions asked by the ED.
  • New concerns that may be addressed by the Board: these include topics commented on by stakeholders that were not considered by the Board when developing the ED. These topics will be analysed by the staff before the Board decides whether any action is required to address them.

For the topics that will be considered further, the Board will decide whether to make changes at the next three Board meetings.  Further background detail is included in this following article.

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