Amendments to IFRS 4 endorsed for use in the EU

On 15 December 2020, Amendments to IFRS 4 Insurance Contracts – Extension of the Temporary Exemption from Applying IFRS 9 were endorsed by the European Commission for use in the European Union. The EU effective date is the same as the IASB’s effective date (annual periods beginning on or after 1 January 2021). Earlier adoption of Amendments is permitted.

The amendments to IFRS 4 were issued together with the Amendments to IFRS 17 Insurance contracts in June 2020. The amendments to IFRS 4 change the fixed expiry date for the temporary exemption in IFRS 4 Insurance Contracts from applying IFRS 9 Financial Instruments, so that entities will be required to apply IFRS 9 for annual periods beginning on or after 1 January 2023 (instead of 1 January 2021).

We informed you in detail about these amendments in the article IASB issued narrow-scope amendments to IFRS 17 and IFRS 4.

Sources:, Amendments to IFRS 4

IFRS 4 IASB IFRS dReport newsletter

Upcoming events

Seminars, webcasts, business breakfasts and other events organized by Deloitte.

    Show morearrow-right