CFOs and senior life insurance executives agreed that the industry is struggling to understand and prepare for the impact the financial reporting changes will have on business
Participants of a roundtable hosted by Ernst & Young in the US has found that life insurance companies are struggling to cope with the changes resulting from the convergence of US GAAP and IFRS.
CFOs and senior life insurance executives agreed that there was an over-riding consensus that the industry is struggling to understand and prepare for the impact the financial reporting changes will have on business.
The regulations are still in flux but companies who seek to understand the impacts of the changes on their businesses will be better equipped to deal with them.
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