Much-needed breathing space : IFRS17 update

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      <subfield code="a">Much-needed breathing space</subfield>
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      <subfield code="a">Singapore: Postponement is a positive development / Paul McNamara -- Hong Kong: Deferment provides impetus for insurers to improve operations / Ranamita Chakraborty -- Australia: Room to breathe and a chance to improve / Amir Sadiq -- India: More time will ensure proper implementation / Anoop Khanna -- South Korea: Insurers must use IFRS17 deferment wisely / Ahmad Zaki -- Malaysia: Delay allows for more breathing space / Ridwan Abbas -- Sri Lanka: Delay will help industry deal with operational issues / Jimmy John</subfield>
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      <subfield code="a">In March 2020 the International Accounting Standards Board (IASB) announced a further delay to the effective date for IFRS17 implementation  pushing it back to 1 January 2023. This represents a one-year delay from the date proposed in the June 2019 exposure draft amendments - and a two-year delay from when the implementation date was first proposed in 2017. We spoke to a number of industry thought leaders throughout the region to see how they felt the most recent delay would impact the various markets.</subfield>
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