Progress of industry to date on implementation of the new IFRS 17 insurance accounting standard
The new insurance contracts standard, IFRS 17 Insurance Contracts, continues to raise a variety of implementation questions from stakeholders.
To help support implementation and reduce the potential for diversity in practice, the IASB has set up a Transition Resource Group (TRG), which held its second substantive meeting on 2 May 2018.
The TRG does not have standard-setting authority, and its purpose is to provide a public forum for stakeholders to follow the discussion of questions raised on implementation. Visit the IASB website for further details.
The next TRG meeting is in September and we will provide you with any relevant updates after that meeting.