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Course Outline
Introduction to IFRS 17
- Overview of the purpose and scope of IFRS 17.
- Core concepts and key definitions.
- Comparative analysis with IFRS 4.
Accounting for Insurance Contracts under IFRS 17
- Methods for identifying and classifying insurance contracts.
- Considerations regarding the unit of account and portfolio grouping.
- Techniques for separating insurance components from non-insurance elements.
Measurement Models
- The General Measurement Model (GMM).
- The Premium Allocation Approach (PAA).
- The Variable Fee Approach (VFA).
Financial Reporting and Disclosure Requirements
- Presentation of insurance contracts within financial statements.
- Specific disclosure requirements mandated by IFRS 17.
- Data infrastructure and system prerequisites for compliance.
Assessing the Impact of IFRS 17
- Implications for financial performance and profitability.
- Effects on insurers' capital adequacy and risk management strategies.
- Real-world case studies illustrating IFRS 17 application.
Implementation Challenges and Best Practices
- Operational and technical system hurdles.
- Facilitating cross-functional collaboration and governance.
- Insights and lessons learned from early adopters.
Sustaining Compliance and Long-Term Viability
- Maintaining adherence to evolving regulatory standards.
- Monitoring contract performance in line with IFRS 17.
- Strategic adjustments to enhance transparency and competitiveness.
Course Summary and Future Steps
Requirements
- A foundational understanding of accounting principles.
- Prior experience in preparing financial statements and reporting.
- Familiarity with the insurance or financial services sector is advantageous.
Target Audience
- Insurance companies and professionals.
- Financial controllers.
- Financial analysts.
- Actuaries.
- Auditors.
- Accountants and finance professionals.
21 Hours
Testimonials (5)
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.
Elpida - Unemployed
Course - Anti-Money Laundering (AML) and Combating Terrorist Financing (CTF)
The pricing strategies. Need to have more real case examples on the strategies and the pricing methods.
Ruziham A Razak - Telekom Malaysia Berhad
Course - A Practical Guide to Successful Pricing Strategies
Personal service and orientated to my needs