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A4A-ACCSPIN
This video tackles about the IFRS 17, who will be affected, what are the changes and
questions asked by several people to the hosts.
An entity shall apply IFRS 17 retrospectively unless impracticable, except that: (a)an
entity is not required to present the quantitative information required by paragraph 28(f) of IAS
8Accounting Policies, Changes in Accounting Estimates and Errors; and(b)an entity shall not
apply the option in paragraph B115 for periods before the date of initial application of IFRS 17.
An entity shall update the assumptions under the new model frequently as required by
the Standard. For insurance contracts with direct participation features (paragraph B10), the
contractual service margin is adjusted to reflect the variable nature of the fee.