There are times when ‘wait and see’ is the ideal strategy. Research shows, for instance, that some forms of prostate cancer are so benign that doing nothing except monitor is genuinely the best way to avoid harm. But with IFRS 4 Phase II, on accounting for insurance contracts, it is

“It is a truth universally acknowledged…” that credit risk assessment is not always either accurate or fair. Indeed, some would say that was putting it mildly, for those with little or no credit history they likely to be badly served by the current market. One way in which it has