The International Accounting Standards Board’s 2013 Exposure Draft focuses on the practical implications of the changes in IFRS4 Phase 2. There are several significant potential issues insurers may face when adopting and applying the new accounting standard. Some of these include the storage of historical data, the complexity and granularity of calculations and the presentation of results in the income statement. Besides these challenges, there is also the issue of implementing and maintaining a well performing chain of calculation and reporting engines.