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Duration 21 hours
Course Outline
IFRS 17 Fundamentals
- Objectives and scope of IFRS 17
- Core concepts and key definitions
- Differences between IFRS 17 and IFRS 4
Accounting for Insurance Contracts under IFRS 17
- Identifying and categorizing insurance contracts
- Unit of account and portfolio-level considerations
- Distinguishing insurance from non-insurance components
Measurement Frameworks
- General Measurement Model (GMM)
- Premium Allocation Approach (PAA)
- Variable Fee Approach (VFA)
Financial Reporting and Disclosure Requirements
- Presentation of insurance contracts within financial statements
- Specific disclosure obligations under IFRS 17
- Data and system prerequisites for compliance
Evaluating IFRS 17 Impact
- Influence on financial performance and profitability
- Implications for insurers’ capital structure and risk management
- Real-world case studies of IFRS 17 implementation
Implementation Hurdles and Best Practices
- Operational and technical system challenges
- Fostering cross-functional cooperation and governance
- Insights gained from early adopters
Sustaining Compliance and Long-Term Viability
- Staying compliant with evolving regulatory standards
- Tracking contract performance under IFRS 17
- Strategic adaptations to enhance transparency and market competitiveness
Conclusion and Recommended Next Steps
Requirements
- A solid grasp of accounting principles
- Familiarity with financial statements and reporting processes
- Background knowledge in insurance or financial services is advantageous
Target Audience
- Insurance providers
- Controllers
- Analysts
- Actuaries
- Auditors
- Accountants and finance experts
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.