Earlier this month, the European Financial Reporting Advisory Group (EFRAG) published a feedback statement on the revised exposure draft on accounting for insurance contracts published by the International Accounting Standards Board (IASB) in June 2013. The exposure draft aims to provide a uniform basis of accounting for insurance contracts. EFRAG also released a report summarising the outcome of a field test focused on the practical application of the revised exposure draft. A number of concerns were identified by EFRAG in this regard. The IASB is scheduled to meet at the end of January 2014 to consider feedback on the exposure draft.