Field Test Round III
The IASB will be conducting a third round of field tests during comment period of the 2013 Exposure Draft Insurance Contracts to:
- understand how the revised proposed would operate in practice;
- the cost and operational challenges associated with the revised proposals compared to the original proposals in the 2010 ED; and
- assess how the revised proposals will help entities that issue insurance contracts to communicate with users of their financial statements.
The IASB discussed the plan for field tests at its November 2012 meeting.
For jurisdictions where national standard setters and regional organisation will be conducting some field work, we intend to work cooperatively with those organisations to reduce the effort of responding to similar requests.
Please contact Joanna Yeoh, Senior Technical Manager, if your organisation is interested in participating.