The Comite Europeen des Assurances (CEA) has issued a cautious welcome to the draft regulations proposed by the International Accounting Standards Board (IASB) but has stressed that important issues remain outstanding and need to be addressed.In October 2003 the CEA submitted its comments on the proposals for Phase I of the insurance contract project. It added that it was concerned the proposals might require significant modifications before it was known what the final Phase II model and sys
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