News Regulations11 Oct 2019

South Korea:Regulator delays implementation of IFRS 17 for insurers

The Financial Services Commission (FSC) in South Korea has decided on a 12-month delay in implementing the International Financial Reporting Standards 17 (IFRS 17) for insurers, according to a report from the Yonhap News Agency. This comes after the global insurance industry called for more time to adopt to the global accounting standards which are originally set to be effective in January 2021.

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