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Course Outline
Introduction to IFRS 17
- The purpose and scope of IFRS 17.
- Core concepts and definitions.
- Comparison with IFRS 4.
Insurance Contract Accounting under IFRS 17
- Identification and classification of insurance contracts.
- Considerations for the unit of account and portfolio management.
- Separation of insurance and non-insurance components.
Measurement Models
- General Measurement Model (GMM).
- Premium Allocation Approach (PAA).
- Variable Fee Approach (VFA).
Financial Reporting and Disclosures
- Presentation of insurance contracts within financial statements.
- Disclosure requirements mandated by IFRS 17.
- Data and system prerequisites for compliance.
Analyzing the Impact of IFRS 17
- Effects on financial performance and profitability.
- Implications for insurers’ capital and risk management strategies.
- Case studies illustrating the application of IFRS 17.
Implementation Challenges and Best Practices
- Operational and technical system challenges.
- Cross-functional collaboration and governance structures.
- Insights and lessons learned from early adopters.
Ensuring Compliance and Long-Term Sustainability
- Maintaining compliance with evolving regulatory standards.
- Monitoring contract performance under IFRS 17.
- Strategic adjustments to enhance transparency and competitiveness.
Summary and Next Steps
Requirements
- A solid understanding of fundamental accounting principles.
- Experience in handling financial statements and reporting processes.
- Knowledge of the insurance or financial services sector is advantageous.
Target Audience
- Insurance companies.
- Controllers.
- Analysts.
- Actuaries.
- Auditors.
- Accountants and finance professionals.
21 Hours
Testimonials (3)
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
Experience and provide necessary information to the topics