IFRS 4 News: The IASB Insurance Contracts Project
The IASB exposure draft on Insurance Contracts (ED), the planned replacement for IFRS 4, was published on 30 July 2010. In this technical bulletin, Mazars will explore some of the key questions the ED raises.
01/12/2010
This new standard will have a significant impact on financial statements, the measurement of insurance contracts, the business processes and IT systems of insurance companies. The proposed margin-based income statement presentation is a fundamental change from the current standard. Practical implementation, understanding and analysing the results of the financial statements as well as dealing with the many uncertainties of the new IFRS standard are the main challenges for insurance companies.
In this paper, we highlight the key changes of IFRS 4 phase II, explore the similarities and differences with Solvency II and identify the key focus areas where insurance companies need to get prepared.
This publication is available in English only:
IFRS4 Insurance news (ENG) (.pdf - 2.79 MB)
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