On 4 April 2013, EIOPA issued a response to the International Accounting Standards Board's proposed amendments to IFRS 9 (which aims, amongst other matters, to reflect the relationship between classification and measurement of financial assets and the accounting for insurance liabilities). In its response, EIOPA confirmed that it fully supports the development of a 'single, global, high quality financial reporting and accounting standard' for insurance contracts. However, points emphasised by EIOPA include (a) the importance of ensuring that IFRS 9 and IFRS 4 (which applies to most (re)insurance contracts) do not result in insurers' accounting mismatches and (b) that the compulsory effective dates of IFRS 4 and IFRS 9 should be simultaneous (so that insurers are not required to implement two major changes within a short timeframe).