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Purpose
Responsibilities
Membership
Additional information
Purpose
The Accounting Standards Board established the Insurance Accounting Task Force (IATF) to contribute to the
development of sound standards on insurance
contracts by the International Accounting Standards Board (IASB) on behalf of the Canadian accounting
profession, and to advise the Accounting Standards Board (AcSB) on corresponding Canadian standards.
- Responsibilities
- The responsibilities of the IATF include:
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- assisting the Canadian liaison member of the IASB Insurance Working Group in formulating views on
material presented for discussion or approval by the IASB and highlighting issues that require the AcSB’s
attention (including unique Canadian circumstances not addressed suitably by the IASB, and matters of
particular concern to Canadian users, preparers or auditors of insurers’ financial statements);
- acting as a source of useful information to AcSB staff concerning the Canadian insurance business and
Canadian standards, regulatory requirements and practices affecting financial reporting by Canadian
insurers;
- assisting in the development of a awareness in Canada concerning the IASB standard by communicating with
interested parties to increase their knowledge of the standard and thereby promote its acceptance; and
- assisting the AcSB in dealing with Canadian insurance accounting issues generally.
Further information about this international project, including observer notes for Working Group meetings
is available at: www.iasb.org/Current
Projects/IASB Projects/Insurance Contracts/Insurance Contracts.htm
Membership
Membership of the IATF will generally comprise professionals with a range of backgrounds and experience,
including preparers and auditors of public company financial reporting. Current membership of the IATF can be
viewed here.
Additional
Information
To obtain more information about the IATF, to communicate issues to the IATF, or to be considered for future
membership, contact:
Karlene Mulraine, CA, CPA
Principal,
Accounting Standards Board
277 Wellington Street West
Toronto ON M5V 3H2
Canada
Phone: +1 (416) 204-3466
Fax: +1 (416) 204-3412
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