Thank you for sending your enquiry! One of our team members will contact you shortly.
Thank you for sending your booking! One of our team members will contact you shortly.
Duration 21 hours
Course Outline
Overview of IFRS 17
- Objectives and applicability of IFRS 17
- Fundamental concepts and terminology
- Differences from IFRS 4
Accounting for Insurance Contracts under IFRS 17
- Identification and categorization of insurance contracts
- Determining the unit of account and portfolio factors
- Distinguishing insurance and non-insurance elements
Measurement Approaches
- General Measurement Model (GMM)
- Premium Allocation Approach (PAA)
- Variable Fee Approach (VFA)
Financial Reporting and Disclosure Obligations
- Presentation of insurance contracts within financial statements
- Mandatory disclosures under IFRS 17
- Data and system prerequisites for adherence
Evaluating the Consequences of IFRS 17
- Effects on financial outcomes and profitability
- Influence on insurer capital and risk oversight
- Illustrative examples of IFRS 17 implementation
Implementation Hurdles and Recommended Practices
- Operational and technical system obstacles
- Inter-departmental cooperation and governance structures
- Insights from early adopters
Sustaining Compliance and Long-Term Viability
- Upholding compliance with changing standards
- Tracking contract performance in line with IFRS 17
- Strategic refinements for transparency and market competitiveness
Recap and Future Actions
Requirements
- Familiarity with core accounting principles
- Proficiency in financial statement analysis and reporting
- Background knowledge in insurance or financial services is advantageous
Target Audience
- Insurance carriers
- Financial controllers
- Analysts
- Actuaries
- Auditors
- 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.