New Zealand

Details

  • Industry: Financial Services, Insurance
  • Type: Business and industry issue, Publication series
  • Date: 14/02/2014

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IFRS Newsletter: Insurance - issue 36, January 2014 

The latest IFRS Newsletter: Insurance reviews feedback from meetings between IASB and FASB in January 2014 on the joint insurance contracts project.
IFRS Insurance Newsletter Jan 2014
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Feedback presented at this month’s joint meetings between the IASB and the FASB indicated that the majority of respondents welcomed the insurance proposals; however, most highlighted the need for further changes.

 

In particular, the three critical issues of complexity, accounting mismatch and participating contracts need to be resolved if the benefits of introducing a new standard are to outweigh the costs. Some respondents to the FASB proposals would prefer targeted improvements to US GAAP if convergence cannot be achieved.

 

Download Issue 36
[PDF: 1.3MB]
IFRS Insurance newsletter - KPMG's monthly update on the joint IASB / FASB insurance project. 

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