Preparation and Readiness for Accounting Change – An Industry Survey
The multiple challenges global insurers face today are well documented. We surveyed a number of insurers from around the world to see if future accounting changes (IASB and FASB draft comprehensive insurance contracts standards or “Phase II”) is still a priority to global insurers. Some of the results of the survey were striking, so we have created a short summary of the results.
This publication is part of our New World for Insurance series of publications which discusses and highlights important issues for insurers relating to the forthcoming financial reporting changes impacting the sector. While timetables for the IASB and FASB draft insurance contract standards have been delayed, this survey highlights that these changes are still top of mind for many global insurers.