IASB Implementation information - read more

This appendix is an integral part of IFRS 17 Insurance Contracts.

Effective date

C1 An entity shall apply IFRS 17 for annual reporting periods beginning on or after 1 January 2023. If an entity applies IFRS 17 earlier, it shall disclose that fact. Early application is permitted for entities that apply IFRS 9 Financial Instruments on or before the date of initial application of IFRS 17.

C2 For the purposes of the transition requirements in paragraphs C1 and C3-C33:

(a) the date of initial application is the beginning of the annual reporting period in which an entity first applies IFRS 17; and

(b) the transition date is the beginning of the annual reporting period immediately preceding the date of initial application.

C2A Initial Application of IFRS 17 and IFRS 9 - Comparative Information, issued in December 2021, added paragraphs C28A-C28E and C33A. An entity that chooses to apply paragraphs C28A-C28E and C33A shall apply them on initial application of IFRS 17.