Industry and IASB disagree over measuring liabilities
A split has emerged between insurance companies and accounting standards setters over the way liabilities are reported on balance sheets, with European insurance supervisors looking for Solvency II reporting requirements to be, as far as possible, compatible with the new IAS/IFRS regime.
The Chief Financial Officers (CFO) Forum has issued a policy document calling for liabilities to be valued according to their best-estimate cost at inception (so-called entry-value), rather than measuring
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