Featured Product

    IASB Publishes Summary of the April 2019 Meeting of ASAF

    May 13, 2019

    IASB published a summary of the meeting of Accounting Standards Advisory Forum (ASAF), along with the meeting papers and recordings. The meeting was held during April 01, 2019 to April 02, 2019 at the IFRS Foundation office in London. The key topics discussed at the April meeting included accounting treatment of initial coin offerings and tokens in France, amendments to IFRS 17 on insurance contracts, materiality judgments to reporting climate related and other emerging risk issues on financial statements, disclosure initiative, and improving the impairment testing model in IAS 36 on impairment of assets.

    One of the objectives of the meeting was to gather views of the ASAF members on the tentative decisions of IASB on possible amendments to IFRS 17. The staff had provided an update on the tentative decisions the IASB made at its March 2019 meeting. The topics related to the tentative decisions include loans that transfer insurance risk, acquisition cash flows for renewals, profit allocation for some contracts, risk mitigation option, balance sheet presentation, transition, and level of aggregation.

     

    Keywords: International, Accounting, Insurance, IFRS 17, Insurance Contracts, ASAF, IASB

    Featured Experts
    Related Articles
    News

    FSB Report Examines Implementation of OTC Derivative Reforms

    FSB published annual progress report on implementation of the agreed G20 reforms for over-the-counter (OTC) derivatives markets.

    October 15, 2019 WebPage Regulatory News
    News

    HKMA Reduces Countercyclical Capital Buffer in Hong Kong to 2.0%

    HKMA announced that the countercyclical capital buffer (CCyB) for banks in Hong Kong has been reduced from 2.5% to 2.0%, with immediate effect, in accordance with the Banking (Capital) Rules.

    October 14, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for October 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to ten questions.

    October 11, 2019 WebPage Regulatory News
    News

    EC Consults on Implementation of Final Basel III Reforms in EU

    EC launched a public consultation on the implementation of Basel III standards in EU.

    October 11, 2019 WebPage Regulatory News
    News

    MAS Amends Regulation on Clearing of Derivatives Contracts

    MAS amended regulation for the mandatory centralized clearing of certain derivative contracts.

    October 11, 2019 WebPage Regulatory News
    News

    OCC Revises Minimum Threshold for Banks to Conduct Stress Tests

    OCC issued the final rule that amends its company-run stress testing requirements under the 12 CFR 46 in Code of Federal Regulations.

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Update Management Interlock Rules Under DIMIA

    US Agencies (FDIC, FED, and OCC) issued a final rule that increases the thresholds in the major assets prohibition for management interlocks for purposes of the Depository Institution Management Interlocks Act (DIMIA).

    October 10, 2019 WebPage Regulatory News
    News

    US Agencies Finalize Rules to Closely Match Bank Risk Profiles

    US Agencies (OCC, FED, and FDIC) finalized rules that tailor the regulations for domestic and foreign banks to more closely match their risk profiles.

    October 10, 2019 WebPage Regulatory News
    News

    CPMI-IOSCO and FSB on Governance Arrangements for OTC Derivatives

    CPMI and IOSCO published a report that identifies key criteria, functions, and bodies for the governance arrangements.

    October 09, 2019 WebPage Regulatory News
    News

    EIOPA Launches Field Test on Templates Under 2020 Solvency II Review

    EIOPA, as part of the 2020 Solvency II reporting and disclosure review, launched a field test on the revised and newly proposed reporting templates.

    October 09, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3965