The International Accounting Standards Board (IASB) has instructed the staff to begin the balloting process for the forthcoming insurance contracts standard, paving the way for the final standard to be issued around the end of 2016.
In the meantime, the IASB will decide on the effective date and complete targeted external reviews to ensure the wording in the standard is interpreted consistently with the Board’s objectives.
Companies should begin assessing the potential impact on their business and closely follow issues that may arise during the balloting process.
We would be delighted to support you in the process and are ready to discuss your challenges.
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