IFRS 4 is intended to cover all entities that issue insurance contracts, not only insurance companies in the legal or regulatory sense. Further interpretation of the Implementation Guidance, Basis for Conclusions and IFRS 4 are required for an entity to apply the standard to its own facts, circumstances and individual transactions. Also, some of the information in this publication is based on interpretations of current literature, which may change as practice and implementation guidance continue to develop. Users are cautioned to read this publication in conjunction with the actual text of the Standard, Implementation Guidance and Basis for Conclusions and to consult their professional advisors before concluding on accounting.
