The IASB has been discussing the responses to the exposure draft (ED) Insurance Contracts with the FASB since December 2010. The project page has been updated to report on the boards' joint tentative decisions and to help interested parties to evaluate its impact on the forthcoming standard.
1. Overview of the tentative decisions (for information)
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A high level summary of progress on the project. [Last updated: October 2011].
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A detailed summary of the IASB and FASB's tentative decisions, showing where those decisions would affect the proposals in the ED. [Last updated: October 2011].
2. Reporting back
A working draft is provided on:
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cash flows (excluding cash flows from discretionary participation features and policyholder tax);
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discount rate;
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risk adjustment (excluding diversification benefits);
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disclosure.
The IASB invites feedback on the working drafts and information about any unintended consequences arising from those drafts.
Press release
© IASB - International Accounting Standards Board
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