A.M. Best – New Accounting Standard IFRS 17 Will Provide Enhanced Reporting
The new International Financial Reporting Standard (IFRS 17) for insurance contracts aims to bring consistency and comparability across the world, and is likely to provide greater granularity. Following a long period of preparation and discussion, the standard was published on May 18, 2017, with an effective date January 1, 2021. However, in A.M. Best’s opinion,…
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