Financial Services Ireland

Insurance Accounting Alert, May 2018

IFRS 17 Insurance Contracts (IFRS 17 or the standard) represents a fundamental change to accounting practice for entities issuing insurance contracts and is expected to require significant
implementation effort. Therefore, as one of the activities to support implementation of IFRS 17, the International Accounting Standards Board (IASB or the Board) has set up a Transition
Resource Group (TRG).

The purpose of the TRG is to:

Provide a public forum for stakeholders to follow the discussion of questions raised on implementation
Inform the IASB in order to help it determine what, if any, action will be needed to address the questions raised. Possible actions include providing supporting materials such as webinars, case studies and/or referral to the Board or IFRS Interpretations Committee

To learn more, click on the link below to download the Insurance Accounting Alert in full. If you would like to discuss these topic further, please don’t hesitate to get in touch with me or your usual EY contact.

Ciara McKenna

FS Partner, Assurance, Insurance

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Insurance Accounting Alert

Second technical discussion of the IASB’s IFRS 17 Transition Resource Group (TRG)

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