International Accounting Standards Board (IASB) News

Global Insurance Accounting Rules Under IFRS17 to Be Amended

An international standard setting body has proposed a one-year delay and changes to the first global accounting rule for insurance contracts following industry calls for a cut in compliance costs and more time. The International Accounting Standards Board (IASB) published …

New Global Insurance Accounting Rule Could Be Delayed One Year

A global standards body has proposed a one-year delay to implementing its new accounting rule aimed at increasing visibility in how insurers earn money, after the industry said it needed more time to prepare for such a sweeping change. A …

Global Insurers Face High Compliance Costs with New Accounting Rules

Insurers in over 100 countries face a “once in a lifetime” accounting change from January 2021 with the introduction of a uniform international book-keeping standard, details of which will be published on Thursday. Twenty years in the works, the new …