IFRS 17: Bridging the Gap

by | Mar 15, 2022 | Regulations

Existing accounting practices in the insurance industry are inconsistent and unclear. This has led to the issuance of IFRS 17 Insurance Contracts – the first international Standard for insurance contracts. Because this Standard is based solely on principle and does...

The 5 Ws and H of IFRS 17 (Part 2)

by | Jun 3, 2021 | Regulations

Previously, we talked about the 5 Ws of IFRS 17. This blog post (Part 2) will discuss the H: How does IFRS 17 replace IFRS 4? A Consistent Model Figure 1: The components that make up IFRS 17 insurance contract liabilities.[1] IFRS 17 introduces the General Measurement...

The 5 Ws and H of IFRS 17 (Part 1)

by | Apr 20, 2021 | Regulations

International Financial Reporting Standards (IFRS) 17 Insurance Contracts, issued in 2017, represents a major overhaul on financial reporting for insurance companies. However, many in the financial industry are still unfamiliar with the Standards. This blog post, Part...