13. September 2016
On 12 September 2016, the IASB issued Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts (Amendments to IFRS 4). The amendments address the concerns which result from the implementation of IFRS 9 Financial Instruments (effective date 01.01.2018) before the implementation of the new insurance contracts Standard, whose publication is expected within the next six months as IFRS 17 (effective date no earlier than 2020).
The amendments comprise two optional approaches:
The amendments to IFRS 4 supplement the existing options in the Standard to address the temporary volatility.