Firms tap Solvency II know-how for accounting overhaul
A new challenge is in the making for Europe's insurance companies - in the form of IFRS 4 Phase II. The timetable is long, but there is much to do. Firms that draw on expertise developed in implementing Solvency II will have a head start
Insurers in the UK and Europe currently have their heads down pushing through final preparations for Solvency II. The effort has been so arduous for many that they would be forgiven for eagerly anticipating the moment they successfully meet the first deadlines and can relax. But as they lift their heads they see yet another challenge ahead - in this case, International Financial Reporting Standards (IFRS) 4 Phase II. Although it is a new accounting standard, it cannot simply be left to the
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