Tag Archives: Insight

IFRS 4 versus IFRS 17: 3 key differences and what they mean for the insurance industry

In May 2017, the International Accounting Standards Board (IASB) finally issued IFRS 17. Billed as the first truly global accounting standard for insurance contracts, it represents a new era for users and preparers of insurers’ financial statements. Eleanor Hill looks at the key differences between it and its predecessor, IFRS 4, and how the new standard will impact the insurance industry.