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Duration 21 hours
Course Outline
Overview of IFRS 17
- Objectives and applicable scope of IFRS 17
- Contrast with the previous IFRS 4 standard
Accounting for Insurance Contracts under IFRS 17
- Recognition and classification of insurance contracts
- Determining the unit of account and portfolio groupings
- Disaggregating insurance and non-insurance elements
Measurement Frameworks
- General Measurement Model (GMM)
- Premium Allocation Approach (PAA)
- Variable Fee Approach (VFA)
Reporting and Disclosure Requirements
- Presentation of insurance contracts within financial statements
- Specific disclosure mandates under IFRS 17
- Data and infrastructure needs for effective compliance
Evaluating IFRS 17 Consequences
- Impact on insurer capital structures and risk oversight
- Real-world case studies of IFRS 17 adoption
Adoption Challenges and Optimal Strategies
- Operational and systemic hurdles
- Fostering cross-departmental teamwork and governance
- Insights gained from early implementing firms
Sustaining Compliance and Long-Term Viability
- Staying aligned with evolving regulatory standards
- Tracking contract performance in line with IFRS 17
- Strategic modifications to bolster transparency and market competitiveness
Recap and Future Actions
Requirements
- Solid grasp of fundamental accounting principles
- Practical experience with financial statements and reporting processes
- Familiarity with the insurance or financial services sector is advantageous
Target Audience
- Insurance companies
- Financial controllers
- Financial analysts
- Actuaries
- Audit professionals
- 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.