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Course Outline
Introduction to IFRS 17
- Understanding the purpose and scope of IFRS 17
- Core concepts and essential definitions
- Key differences between IFRS 17 and the legacy IFRS 4
Accounting for Insurance Contracts under IFRS 17
- Identifying and classifying insurance contracts correctly
- Defining the unit of account and managing portfolio considerations
- Separating insurance components from non-insurance components
Measurement Models
- The General Measurement Model (GMM)
- The Premium Allocation Approach (PAA)
- The Variable Fee Approach (VFA)
Financial Reporting and Disclosure Obligations
- Presenting insurance contracts within financial statements
- Meeting specific disclosure requirements under IFRS 17
- Understanding data infrastructure and system requirements for compliance
Assessing the Impact of IFRS 17
- Evaluating effects on financial performance and profitability
- Analyzing implications for insurers’ capital and risk management strategies
- Reviewing case studies on practical IFRS 17 implementation
Implementation Challenges and Best Practices
- Addressing operational and system integration challenges
- Fostering cross-functional collaboration and effective governance
- Learning from the experiences of early adopters
Sustaining Compliance and Long-Term Success
- Maintaining ongoing compliance as standards evolve
- Monitoring contract performance under IFRS 17 guidelines
- Making strategic adjustments to ensure transparency and competitiveness
Course Summary and Next Steps
Requirements
- Solid understanding of fundamental accounting principles.
- Practical experience with financial statement preparation and reporting processes.
- Prior knowledge of the insurance or financial services sector is advantageous.
Target Audience
- Insurance companies
- Controllers
- Financial analysts
- Actuaries
- Auditors
- Accountants and finance professionals
21 Hours
Testimonials (4)
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 lecturer is very knowledgeable and can substantiate theories with his own personal experiences.