(Appendix D of IFRS 17)

BC407 The Board sees no reason to give different transition approaches to first-time adopters of IFRS Standards from other entities. Consequently, the Board has amended IFRS 1 First-time Adoption of International Financial Reporting Standards to require the modified retrospective approach or the fair value approach in IFRS 17 when retrospective application of IFRS 17 is impracticable, as defined by IAS 8. The Board decided not to give any additional relief on the restatement of comparative amounts from that already in IFRS 1.