On Thursday 28 October, the IASB Board discussed the IFRS 17 Exposure Draft relating to the presentation of comparative information on initial application of IFRS 9 and IFRS 17, considering feedback from the comment letters received.
Following feedback on the proposals, the Board extended the scope of the overlay to include all financial assets, including those held in respect of activities not connected to contracts within the scope of IFRS 17. The overlay could also be applied by entities that already apply IFRS 9.
The Board expects to issue the amendment to IFRS 17 before the end of 2021.