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Duration 21 hours
Course Outline
Overview of IFRS 17
- Intent and scope of IFRS 17
- Core concepts and definitions
- Differences between IFRS 17 and IFRS 4
Accounting for Insurance Contracts under IFRS 17
- Recognizing and categorizing insurance contracts
- Unit of account and portfolio analysis
- Distinguishing insurance from non-insurance elements
Measurement Frameworks
- General Measurement Model (GMM)
- Premium Allocation Approach (PAA)
- Variable Fee Approach (VFA)
Financial Reporting and Disclosure
- Displaying insurance contracts within financial statements
- Mandatory disclosures under IFRS 17
- Data and system prerequisites for adherence
Evaluating the Consequences of IFRS 17
- Influence on financial results and profitability
- Implications for insurer capital and risk oversight
- Real-world examples of IFRS 17 implementation
Implementation Hurdles and Best Practices
- Operational and technical system challenges
- Interdepartmental cooperation and governance structures
- Insights gained by early implementers
Sustaining Compliance and Long-Term Stability
- Maintaining adherence to evolving regulatory standards
- Tracking contract performance in line with IFRS 17
- Strategic moves to enhance transparency and market competitiveness
Recap and Future Steps
Requirements
- A solid grasp of accounting principles
- Experience with financial statements and reporting processes
- Familiarity with insurance or financial services is advantageous
Target Audience
- Insurers
- Controllers
- Analysts
- Actuaries
- Auditors
- Accountants and finance professionals
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.