(2)On 19 November 2021, by Commission Regulation (EU) 2021/2036 3 the Commission adopted the new International Financial Reporting Standard (IFRS) 17 Insurance Contracts as issued by the International Accounting Standards Board (IASB) in May 2017 and amended by it in June 2020. That standard is to apply from 1 January 2023 onwards. Earlier application is permitted.
Recital 2
- 3 Commission Regulation (EU) 2021/2036 of 19 November 2021 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Financial Reporting Standard 17 ( OJ L 416, 23.11.2021, p. 3 ). ↩