Get in Touch

Course Outline

Overview of IFRS 17 Standards

  • Objectives and applicable scope of IFRS 17
  • Fundamental terminology and definitions
  • Distinctions between IFRS 17 and prior IFRS 4 guidance

Accounting for Insurance Contracts under IFRS 17

  • Identification and classification of insurance contracts
  • Determination of the unit of account and portfolio aggregation
  • Separation of insurance and non-insurance components

Measurement Methodologies

  • General Model (GMM) application
  • Premium Allocation Approach (PAA) criteria
  • Variable Fee Approach (VFA) for direct participating contracts

Financial Reporting and Disclosure Obligations

  • Presentation of insurance contract assets and liabilities in financial statements
  • Mandatory disclosure requirements under IFRS 17 for government reporting frameworks
  • Data infrastructure and system capabilities required for regulatory compliance

Assessment of IFRS 17 Implications

  • Effects on financial performance metrics and profitability analysis
  • Influence on capital adequacy and risk management practices for insurance entities
  • Examination of application examples from early adopters

Implementation Hurdles and Strategic Best Practices

  • Technical and operational integration challenges
  • Interdepartmental coordination and oversight mechanisms
  • Key insights derived from initial implementation phases

Sustaining Compliance and Operational Resilience

  • Ongoing adherence to evolving accounting standards
  • Continuous monitoring of contract performance metrics under IFRS 17
  • Strategic initiatives to enhance transparency and market competitiveness for government stakeholders

Conclusion and Future Actions

Requirements

  • Proficiency in accounting standards and practices
  • Demonstrated experience preparing financial statements and reporting materials for government entities
  • Familiarity with insurance or financial services regulations is advantageous

Target Audience

  • Insurance carriers and regulatory bodies
  • Financial Controllers
  • Data Analysts
  • Actuaries
  • Auditors
  • Accountants and finance professionals
 21 Hours

Number of participants


Price per participant

Testimonials (4)

Upcoming Courses

Related Categories