On 21 April, EFRAG published its draft Letter on the IFRS IC’s tentative agenda decisions in the final phase of implementing IFRS 17.
In the draft letter, EFRAG reports concerns heard from its constituents that the Tentative Agenda Decision, and other interpretation issues that may arise less than one year before the date of first application of IFRS 17, would unduly disrupt the implementation of the Standard. Given the significant efforts to implement IFRS 17 by insurance entities, EFRAG kindly reminds the IFRS IC that an Agenda Decision may have a potential impact on implementation at this stage and emphasises the importance of the IFRS IC undertaking outreach before any Tentative Agenda Decisions.
Please find EFRAG’s draft letter here, EFRAG requests comments by 17 May 2022.
Insurance Europe