Audit
IFRS 17 - Impact on non-insurance entities
Scope of the Standard and situations where a contract issued by a non-insurance entity may fall within that scope.
The IASB has published an Exposure Draft ‘Annual Improvements to IFRSs 2012 - 2014 Cycle’ which proposes minor amendments to four Standards. The proposals are the latest under the IASB’s annual improvements project, a process for making non-urgent, but necessary, minor amendments to IFRSs.
The issues addressed by the proposals, which reflect issues discussed by the IASB in a project cycle that began in 2012, are as follows:
Our letter overall supports the proposals, however adds a few suggestions for consideration in respect of the changes proposed.