NOFA foundation launches an expert review of the perceived difference between the Russian and English versions of IFRS 17 «Insurance Contracts» regarding the definition of the term ‘Underlying items’.

Discussion and voting by members of the NOFA Foundation's expert panel will be by absentee ballot.

The expert review is conducted in accordance with the procedure established by the Regulation on the Recognition of International Financial Reporting Standards and Interpretations of International Financial Reporting Standards for Application in the Russian Federation, approved by Decree of the Government of the Russian Federation dated 25 February 2011 N 107, and the Agreement between the Ministry of Finance of the Russian Federation and the NOFA Foundation.