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 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)

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