IFRS 17 Work Group

The IFRS 17 Work Group of the Financial Reporting Committee focuses on the comprehensive International Financial Reporting Standards that establish the accounting for insurance contracts. IFRS 17 was released in May, 2017, and after being deferred two years, has an effective date of 1/1/2023. Companies are in the midst of determining their implementation strategy. The work group analyzes and discusses the implementation of the new international standard, and creates educational resources for actuaries working in financial reporting. The work group also responds to international stakeholder exposures related to IFRS 17.