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About the Transition Resource Group for IFRS 17 Insurance Contracts
The Transition Resource Group for IFRS 17 (TRG) was one of the ways the International Accounting Standards Board (IASB) supported implementation of the new Standard. The purpose of the group was to:
- provide a public forum for stakeholders to follow the discussion of questions raised on implementation; and
- inform the IASB in order to help it determine what, if any, action would be needed to address those questions. Possible actions included providing supporting materials such as webinars, case studies and/or referral to the IASB or the IFRS Interpretations Committee (Interpretations Committee).
Between February 2018 to April 2019 there were four TRG meetings that covered all 127 submissions up to April 2019. No further TRG meetings were scheduled.
IFRS 17 became effective on 1 January 2023, and as a result the work of the TRG for IFRS 17 is now complete.
Any support for the implementation and application of IFRS 17 will continue to be available through the activities of the IASB and the Interpretations Committee supporting the understanding and consistent application of IFRS Accounting Standards.
