Amendments to IFRS 17 Insurance Contracts


In this Exposure Draft, the International Accounting Standards Board (Board) proposes targeted amendments to IFRS 17 Insurance Contracts, issued in May 2017 to respond to concerns and challenges raised by stakeholders as IFRS 17 is being implemented. IFRS 17 is needed to address many inadequacies in the wide range of insurance accounting practices used applying IFRS 4 Insurance Contracts and significant implementation activities are already underway. The Board has considered the concerns and challenges raised by stakeholders and concluded that the potential costs of proposing targeted amendments to IFRS 17 could be justified if those amendments would provide meaningful support to entities implementing the Standard and if those amendments:

(a)        would not change the fundamental principles of the Standard because that would result in a significant loss of useful information for users of financial statements relative to that which would otherwise result from applying IFRS 17; and

(b)        would avoid unduly disrupting implementation already under way or risking undue delays in the effective date of IFRS 17.


Invitation to comment

 ASB invites comments on the Exposure Draft from the public. 

How to comment

Comments should be submitted using one of the following methods, so as to be received not later than August 16, 2019.


  1.       Electronically:  

Click on 'Submit a Comment Letter' below

  1.       Email:               

Comments can be sent to: 

  1.       Postal:               

Secretary, Accounting Standards Board,

The Institute of Chartered Accountants of India,

 ICAI Bhawan, Post Box No. 7100,

Indraprastha Marg,

New Delhi 110 002


Further clarifications on this Exposure Draft may be sought by e-mail to

Comment letter deadline

The Exposure Draft is open for comment until 16th August, 2019

Due process documents
Amendments to IFRS 17 Insurance Contracts  [PDF]