Thank you for sending your enquiry! One of our team members will contact you shortly.
Thank you for sending your booking! One of our team members will contact you shortly.
Duration 21 hours
Course Outline
Overview of IFRS 17
- Objectives and scope of IFRS 17
- Fundamental concepts and terminology
- Distinctions between IFRS 17 and IFRS 4
Accounting for Insurance Contracts under IFRS 17
- Identification and categorization of insurance contracts
- Determining the unit of account and portfolio perspectives
- Distinguishing between insurance and non-insurance elements
Measurement Methodologies
- General Measurement Model (GMM)
- Premium Allocation Approach (PAA)
- Variable Fee Approach (VFA)
Financial Reporting and Disclosure Obligations
- Displaying insurance contracts within financial statements
- Specific disclosure mandates under IFRS 17
- Data infrastructure and system needs for adherence
Evaluating the Effects of IFRS 17
- Consequences for financial results and profitability
- Implications for insurer capital and risk oversight
- Practical examples of IFRS 17 adoption
Adoption Hurdles and Recommended Practices
- Operational and technical obstacles
- Facilitating cross-departmental cooperation and governance
- Insights gained from organizations implementing IFRS 17 early
Sustaining Compliance and Long-Term Viability
- Staying aligned with evolving regulatory standards
- Tracking contract performance in line with IFRS 17
- Strategic modifications to enhance transparency and market position
Recap and Forward Planning
Requirements
- Solid grasp of core accounting principles
- Proficiency in financial statement preparation and reporting
- Familiarity with insurance or financial services (advantageous)
Target Audience
- Insurance companies
- Financial controllers
- Financial analysts
- Actuaries
- Auditors
- Accountants and finance specialists
Testimonials (4)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Good communication, open for discussion, kept it interesting and engaging
Ahmet Keyman - Keytrade AG
Course - Management Accounting and Finance for Non-Finance Professionals
Experience of the trainer and his way of conveying the content
Roggli Marc - Bechtle Schweiz AG
Course - FinOps
The trainer did not leave a single minute unexploited! He was up a storm throughout every lesson and provided much material for whatever he dealt with.