Global IFRS 17 Network: In Transition now live
04/02/20
The IASB concludes its technical discussions on the proposed amendments to IFRS 17, retaining unchanged the annual cohort requirement in IFRS 17
On 25 February 2020, the IASB (‘Board’) completed its deliberations responding to the feedback received on its proposals in the Exposure Draft, ‘Amendments to IFRS 17’ (‘ED’).
The Board tentatively decided that it would make no other amendments to IFRS 17. In particular, the Board tentatively decided that it would retain, unchanged, the annual cohort requirement in IFRS 17 and to finalise the editorial correction that would specify that, when assessing whether a contract meets the criteria for the scope of the variable fee approach (‘VFA’), an entity should assess the variability of the amounts to be paid to the policyholder over the duration of the insurance contract (rather than over the duration of the group of insurance contracts).
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