Under AASB 4 'Insurance Contracts' the insurer at each reporting date must determine whether its insurance liabilities are understated; if they are,the amount should:

Name: Under AASB 4 'Insurance Contracts' the insurer at each reporting date must determine whether its insurance liabilities are understated; if they are,the amount should:
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If insurance liabilities are understated, the insurer must recognize the shortfall as an expense to reflect the true financial position.

Under AASB 4 'Insurance Contracts' the Insurer at Each Reporting