FASB delays insurance standard, focuses on post-implementation reviews

The Financial Accounting Standards Board has voted to defer the effective date of its long-duration insurance contract standard for one year in response to the coronavirus pandemic, as the board takes over the process of conducting post-implementation reviews of some of its recent accounting standards such as revenue recognition, leases and credit losses.

Original Article Posted at : https://www.accountingtoday.com/news/fasb-delays-insurance-standard-focuses-on-post-implementation-reviews