Transcription of IFRS 17 Insurance Contracts
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May 2017. ifrs Standards Effects Analysis ifrs 17 Insurance Contracts This Effects Analysis accompanies, but is not part of, ifrs 17. What is the purpose of this Effects Analysis? This Effects Analysis describes the likely costs and benefits of ifrs 17. The costs and benefits are collectively referred to as effects'. The International Accounting Standards Board (the Board) gains insight into the likely effects of new or revised ifrs Standards through its exposure of proposals to stakeholders and through its analysis and consultation with them. This document describes the Board's considerations of the effects of ifrs 17. Background The Board decided to proceed in two phases in establishing the accounting for Insurance Contracts : Phase 1 completed in 2004 by issuing ifrs 4 Insurance Contracts focused on enhanced disclosure of the amount, timing and uncertainty of future cash flows from Insurance Contracts .
This Effects Analysis accompanies, but is not part of, IFRS 17. What is the purpose of this Effects Analysis? This Effects Analysis describes the likely costs and benefits of IFRS 17.
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