This regularly updated section contains mainly the CFO responses to the International Accounting Standard Board (IASB) on various issues relating to the development of IFRS Phase II. A brief background to the topic is generally included. While the letters can be read in isolation, some knowledge of IFRS and its developments would be advisable for gaining the greatest value from the reading.

http://www.cfoforum.nl/ifrs_letters.html

Summary

On 22 June 2006, the CFO Forum launched its Elaborated Principles for an IFRS Phase II Insurance Accounting Model at an event in Brussels, building on their work on high level Principles, which were published in July 2005.

The document provides background explanation on how the CFO forum considers the various aspects of the insurance accounting model should operate. These aspects include: recognition of profit; liability calculation; portfolio as the unit of account; policyholder behavior; options and guarantees and won credit risk.  It makes further observations on how an accounting standard, making use of these principles, might be developed for use in practice. A particular consideration is given to the views of the CFO Forum in relation to participating contracts.

The document includes definitions of commonly used terms.

http://www.cfoforum.nl/letters/elaborated_principles.pdf

Summary

The website contains many articles relating to the development of International Accounting Standards Board. The IFSR itself is, however, only available for purchase and not free downloading. The documents are generally easy to follow and some background on the topic is often provided.

http://www.iasb.org/Home.htm