| Description : |
The objective of this project is to develop an International Financial Reporting Standard (IFRS) on accounting for insurance contracts. The project will address accounting by both insurers and policyholders.
The IASB decided to develop an IFRS on insurance contracts because:
(a) there was no IFRS on insurance contracts, and insurance contracts were excluded from the scope of existing IFRSs that would otherwise have been relevant (eg IFRSs on provisions, financial instruments, intangible assets).
(b) accounting practices for insurance contracts were diverse, and also often differed from practices in other sectors.
The Board completed phase I of this project in March 2004 by issuing IFRS 4 Insurance Contracts. The project is now in phase II.
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| Working groups : |
EFRAG Technical Expert Group (TEG) - Insurance Accounting Working Group (IAWG) - EFRAG Secretariat - |
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| Current Project Status : |
Final Comment Letter
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| Input for Status : |
Final Comment Letter
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Efrag Output
Comment Letters
No 'Comment Letters'
Other Input
No 'Other Input'
News Items
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