Enormous challenges lie ahead as th...

Enormous challenges lie ahead as the life industry prepares to adopt international accounting standards, now officially known as international financial reporting standards. The standards will show a fundamental new financial management framework for insurers--one that requires a redefinition of by what means management prices products, establishes investment strategy, manages asset/liability positions, measures performance, and communicates that performance to the marketplace. most numerous pressing in the near mete is the need to complete a complex global project in which the directions and deadlines continue to change.

Without question, the industry count upons IAS to produce significant changes in the pattern of reported earnings