At its meeting on 14 March 2019, the IASB proposed further changes to IFRS 17, tentatively deciding to:
The Board decided to retain all other disclosure and transition requirements in IFRS 17 and considered that no further disclosure amendments other than those outlined above were necessary as a result of the proposed amendments to IFRS 17.
The Board also decided not to change the existing requirements in IFRS 17 related to the level of aggregation (see below for more detail).
The IASB has now completed its consideration of the 25 topics raised in its October 2018 Board meeting. The Board will consider in its April 2019 meeting the total package of proposed amendments to determine whether: (a) the benefits of the changes outweigh their costs; and (b) the changes do not unduly disrupt implementation. An Exposure Draft of the proposed amendments to IFRS 17 is expected by June 2019. The staff indicated that they would seek permission from the IFRS Foundation’s Due Process Oversight Committee for a comment period less than 120 days.
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