Many insurers around the globe are opposed to the International Accounting Standards Board’s attempts to reform the industry’s practice, with concerns that a fair value regime would introduce a great deal of volatility into their financial statements.
The ASB, however, wants to persuade insurers that this course is the correct one, unlike many other national standard setters.
The move by the ASB could well undermine attempts by others to get the IASB’s proposals watered down. The Association of British Insurers and the British Bankers’ Association have also expressed reservations that the IASB’s plans will lead to clashes with legitimate business practices, according to the Financial Times.
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast