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IFRS Alert - July 2020

IFRS Alert - July 2020

The International Accounting Standards Board (IASB) has issued Amendments to IFRS 17 ‘Insurance Contracts’ (the amendments). The aim of the amendment is to address the concerns raised by stakeholders and to help entities to simply transition and implement the Standard.

The IASB also issued an amendment to the previous insurance Standard IFRS 4, ‘Extension of the Temporary Exemption from Applying IFRS 9 (Amendments to IFRS 4)’ so that entities can still apply IFRS 9 ‘Financial Instruments’ alongside IFRS 17.

Download the summary amendments here [ 3224 kb ]

For further details or to discuss your requirements, please contact Muath Al Solmi