A post about a post about accounting standards

The IASB and FASB are trying to get their heads around expected loss models for credit provisioning. I’ve seen some of what they’ve suggested over time and they really have had some odd ideas. Maybe this is one area where actuaries really are more comfortable since it’s our daily world.

Anyway, to the point, it looks like their is trouble in paradise.  The FT Alphaville guys have a post showing the tense discussion between the two recently.

I don’t know what this means for the IFRS4 Phase 2 project and insurance accounting conversion. Well it’s not good anyway.