Practical guide to IFRSs 

View this page in: 简体中文版

Oct 2013

Revised exposure draft will significantly change accounting for insurance contracts

On 20 Jun 2013, the IASB (‘the Board’) published a revised exposure draft (ED) on the accounting for insurance contracts reflecting its response to the comments received on the 2010 ED (‘previous ED’). The comprehensive proposals will fundamentally change the accounting by insurers and other entities that issue insurance contracts. The Board has attempted to address the concerns of constituents regarding the perceived ‘artificial’ volatility caused by the proposals in the previous ED, but these changes add complexity. The proposed standard will replace IFRS 4, which currently permits a wide variety of accounting practices for insurance contracts. This practical guide summarises the key proposals and their implications.
Contacts
Donna Dong
Beijing
Tel: +[86] (10) 6533 5661 Email