Superseded by IFRS 17: Insurance Contracts, para. C34, May 2017, for annual periods beginning on or after 1 January 2023. Earlier application is permitted, see App. C.
BC283 The Board is committed to assessing and sharing knowledge about the likely costs of implementing proposed new requirements and the likely ongoing costs and benefits of each new IFRS - the costs and benefits are collectively referred to as ‘effects’. The Board gains insight on the likely effects of the proposals for new or revised IFRSs through its formal exposure of proposals, analysis and consultations with relevant parties.
BC284 In evaluating the likely effects of the Amendments to IFRS 4, the Board has considered the following:
(a) how the overlay approach and the temporary exemption from IFRS 9 affect the financial statements of those applying IFRS;
(b) whether the changes improve the comparability of financial information between different reporting periods for an individual entity and among different e
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