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Duration 21 hours
Course Outline
IFRS 17 Overview
- Objectives and applicability of IFRS 17
- Core concepts and terminology
- Differences compared to IFRS 4
Accounting for Insurance Contracts per IFRS 17
- Identification and categorization of insurance contracts
- Unit of account and portfolio-level considerations
- Distinguishing insurance from non-insurance components
Measurement Approaches
- General Measurement Model (GMM)
- Premium Allocation Approach (PAA)
- Variable Fee Approach (VFA)
Financial Reporting and Disclosure Requirements
- Display of insurance contracts in financial statements
- Mandatory disclosures under IFRS 17
- Data and infrastructure requirements for compliance
Assessing the Implications of IFRS 17
- Effects on financial outcomes and profitability
- Influence on insurer capital and risk management strategies
- Review of IFRS 17 implementation case studies
Implementation Hurdles and Best Practices
- Operational and technological challenges
- Fostering cross-departmental cooperation and governance
- Insights gained from early implementers
Sustaining Compliance and Long-Term Viability
- Keeping pace with evolving standards for compliance
- Tracking contract performance in line with IFRS 17
- Strategic modifications to enhance transparency and market competitiveness
Concluding Summary and Future Actions
Requirements
- Foundational knowledge of accounting principles
- Proficiency in financial statements and reporting processes
- Familiarity with insurance or financial services is advantageous
Target Audience
- Insurers
- Controllers
- 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.