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Concepts of IFRS 4 – Insurance Contracts & Implementation ...

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<strong>IFRS</strong> 4 Phase II<br />

Project timelines<br />

Phase 1 Phase II <strong>Implementation</strong><br />

<strong>IFRS</strong> 4<br />

<strong>Insurance</strong><br />

contracts<br />

IASB –<br />

Discussion<br />

Paper<br />

issued<br />

FASB –<br />

Invitation<br />

to comment<br />

End <strong>of</strong><br />

Comment<br />

Periods (IASB<br />

And FASB)<br />

FASB –<br />

Joined the<br />

project<br />

IASB and FASB<br />

Meetings to<br />

Develop<br />

Accounting<br />

standards<br />

IASB –<br />

Exposure<br />

Draft<br />

End <strong>of</strong><br />

comment<br />

period<br />

Reissue <strong>of</strong><br />

IASB<br />

Exposure draft<br />

Final<br />

Standard<br />

<strong>Implementation</strong><br />

Date<br />

Jan<br />

May Aug Nov<br />

Oct Jan’09 to Jul’10 Jul Nov<br />

H2 2012<br />

TBD<br />

TBD<br />

2005<br />

2006 2007<br />

2008 2009 2010<br />

201 201<br />

Copyright Birla Sun Life <strong>Insurance</strong> Company Limited 2008

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