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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

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