IASB member Gary Kabureck has contributed an article to the IASB website 'Reducing the gap between insurance and other industries'.
12 July 2018
The article outlines the similarities between IFRS 17 and other IFRSs as regards the measurement of obligations at current value and the recognition of revenue as a company provides services to its customers. It concludes that the changes introduced by IFRS 17 will enable a wider range of users to understand insurers’ financial statements and compare them with the financial statements of companies within and outside the insurance industry.
The article is available from the IASB’s website here.