The IAIS issues comment letter to the IASB on its post implementation review of IFRS 9 – Impairment
The International Association of Insurance Supervisors (IAIS) has issued a comment letter to the International Accounting Standards Board (IASB) on its request for information on the Post Implementation Review (PIR) of IFRS 9 Financial Instruments – Impairment. The IAIS welcomes the opportunity to comment on the IASB’s PIR of IFRS 9 – Impairment. Although IFRS 9 became effective only on 1 January 2023 for the insurance industry, the IAIS’ comment letter provides feedback on areas that the IASB should consider as they finalise the PIR of IFRS 9 – Impairment. Feedback was on areas such as impairment requirements in IFRS 9, general approach in recognising expected credit losses, determining significant increase in credit risk, transition, and credit disclosures etc.
Click here to read the comment letter.