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.

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.