Draft Comment Letter deadline closing soon: Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Proposed amendment to IFRS 17)

A reminder that feedback UKEB’s Draft Comment Letter on Initial Application of IFRS 17 and IFRS 9 – Comparative Information closes on 31 August.

The Draft Comment Letter supports the proposals in the IASB’s ED as they will enable insurers to increase the understandability of comparative information on transition to IFRS 17 by permitting entities to avoid classification mismatches that arise purely from differences in transition requirements between IFRS 9 and IFRS 17. In addition, the Draft Comment Letter also provides some recommendations to enhance the IASB’s ED proposals.

The UKEB will consider all stakeholder feedback received by 31 August 2021 for inclusion in its final comment letter to the IASB. Feedback can be sent to UKEndorsementBoard@endorsement-board.uk

Link to Draft Comment Letter

Link to the Invitation to Comment and the Your Details document: Click here

For more information on the proposals and the UK Endorsement Board’s approach to this project, please see our website: Click here