CIB 6.3.1

Except where these Rules provide for a different method of recognition or valuation, whenever a Rule refers to an asset, liability, equity or income statement item, a Captive Insurer must, for the purpose of that Rule, recognise the asset, liability, equity or income statement item and measure its value in accordance with IFRS or any other accounting standards as applicable to the Captive Insurer for the purpose of its external financial reporting.