Terms of reference
IFRS 17 is an International Financial Reporting Standard that was issued by the International Accounting Standards Board in May 2017.
It will replace IFRS 4 on accounting for insurance contracts and has an effective date of 1 January 2021.
In November 2018 the International Accounting Standards Board proposed to delay the effective date by one year to 1 January 2022.
After completing its discussions on the amendments to IFRS 17 Insurance Contracts, the Board decided that the effective date of the Standard will be deferred to annual reporting periods beginning on or after 1 January 2023.