On 20 January 2016, the European Insurance CFO Forum published a letter (issued jointly by it and Insurance Europe) to the IFRS Foundation.  This expresses concern regarding misalignment of proposed effective dates for IFRS 9 and IFRS 4 Phase 2.  According to the letter, issues faced by insurers as a result include accounting mismatches and an effective dual application of IFRS 9 (causing significant cost and confusion). The CFO Forum called for deferral of IFRS 9 to be available to all insurers.