IFRS Update Webinar

IFRS Update: IASB/FASB Insurance Contracts Project
Nov. 1, 2012
Noon−1:30 p.m. Eastern

The Academy’s International Accounting Standards Task Force (IASTF) presented a webinar on the FASB and IASB Insurance Contracts Project. Attendees learned about IASB’s work on Phase 2 of the project and the resulting significant changes to the International Financial Reporting Standard (IFRS) on insurance contracts, and potential changes to U.S. GAAP.
This 90-minute webinar included these topics:
  • Premium allocation approach
  • Presentation of income and expense
  • Current U.S. GAAP/IFRS 4 transition to the new GAAP/IFRS
  • Different positions between FASB and IASB
  • Other Comprehensive Income (OCI) uses
  • Timeline for upcoming FASB and IASB Insurance Contracts exposure drafts


  • Noel Harewood, MAAA, FSA; Member, IASTF
  • Robert Miccolis, MAAA, FCAS; Member, IASTF
  • Doug Van Dam, MAAA, FSA; Member, IASTF


The American Academy of Actuaries believes in good faith that your attendance at this live webinar, “IFRS Update: IASB/FASB Insurance Contracts Project,” constitutes an organized activity as defined under the current Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States depending upon your area of practice. Under these Qualification Standards, an hour of continuing education is defined as 50 minutes, and fractions of an hour may be counted.