IFRS 4 Insurance Contracts: Update on Key Issues
EY offers a complimentary on-demand webcast discussing proposed International Accounting Standards Board (IASB) modifications to IFRS 4 Insurance Contracts after the Exposure Draft received extensive comments from preparers and industry practitioners.
On its website, EY says that in recent deliberations following the receipt of comments, the IASB has reached tentative decisions about recognizing the contractual service margin in profit or loss. Further tentative decisions have been reached concerning fixed-fee service contracts, significant insurance risk, portfolio transfers and business combinations.
This webcast discusses the background to the ED and the current project status. Our panel will review the insurance industry’s responses to IFRS 4, and outline the IASB’s path towards finalising the project, focussing on key issues, challenges and operational impacts, and on what the IASB expects from the insurance industry.