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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

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