IASB published an updated work plan, along with the update of its meeting in May 2019. The update on the IASB meeting highlights preliminary decisions of the Board.
At the meeting, IASB received an update on the Transition Resource Group for IFRS 17 on Insurance Contracts (TRG) meeting, which was held in April 2019. IASB discussed technical issues to be considered before finalizing the exposure draft of proposed amendments to IFRS 17. The staff expects that exposure draft will be published at the end of June 2019 with a comment period of 90 days. Other key topics discussed at the May meeting included implementation matters, primary financial statements, review of the IFRS for small and medium-size entities (SMEs) standard, rate-regulated activities, and goodwill and impairment.
Keywords: International, Insurance, Accounting, IFRS 17, Work Plan, Insurance Contracts, Transition Resource Group, IASB
Previous ArticleDNB Issues Additional Data Quality Checks for Second Quarter of 2019
Next ArticleFCA Publishes Its Business Plan for the Coming Year
BCBS amended the guidelines on sound management of risks related to money laundering and financing of terrorism (ML/FT).
EBA finalized the guidelines on treatment of structural foreign-exchange (FX) positions under Article 352(2) of the Capital Requirements Regulation (CRR).
FSB published a statement on the impact of COVID-19 pandemic on global benchmark transition.
IAIS published the list of Internationally Active Insurance Groups (IAIGs) publicly disclosed by group-wide supervisors.
FED has temporarily revised the reporting form on consolidated financial statements for holding companies (FR Y-9C; OMB No. 7100-0128).
EC launched a consultation on the review of the key elements of Solvency II Directive, with the comment period ending on October 21, 2020.
ECB launched a consultation on the guide that sets out supervisory approach to consolidation projects in the banking sector.
PRA published a letter that builds on the expectations set out in the supervisory statement (SS3/19) on enhancing banks' and insurers' approaches to managing the financial risks from climate change.
US Agencies (Farm Credit Administration, FDIC, FED, FHFA, and OCC) finalized changes to the swap margin rule to facilitate implementation of prudent risk management strategies at banks and other entities with significant swap activities.
IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.