Course Outline

Introduction

  • The Transition from IFRS 4 to IFRS 17

Overview of IFRS 17

  • Changes from IFRS 4 to IFRS 17

Insurance Contracts

  • Interpreting an Insurance Contract
  • Segregating Non-Insurance Elements
  • Identifying Insurance Risk
  • Organizing Contracts into Units of Account and Portfolios

Financial Statements

  • Understanding the General Measurement Model
  • Grouping Entries into Blocks
  • Other Accounting Models
  • Analyzing a Real-World Financial Statement

Measurement Approaches

  • Initial Recognition
  • Subsequent Measurement
  • Premium Allocation Approach

Managing Contract Types

  • Reinsurance Contracts
  • Direct Participation Contracts
  • Discretionary Participation Contracts
  • Modified Contracts
  • Derecognition of an Insurance Contract

Transitional Rules and Approaches

  • Fully Retrospective
  • Modified Retrospective
  • Fair Value

Disclosures

  • Understanding the Disclosure Requirements in IFRS 17
  • New Data Requirements
  • Other Compliance Issues

Transitioning to IFRS 17

  • Assessing the Scope of an IFRS 17 Transition for Government
  • Assembling an Implementation Team
  • Preparing a Transition Plan
  • Creating and Maintaining a Schedule

Transparency and Profitability

  • Identifying and Measuring Insurance Contract Performance
  • Enhancing Transparency in Contracts and Reporting
  • Increasing the Profitability of an Insurance Company

Summary and Conclusion

Requirements

  • A foundational knowledge of basic accounting principles for government

Audience

  • Insurers
  • Controllers
  • Analysts
  • Actuaries
  • Auditors
  • Accountants and other finance professionals for government
 21 Hours

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