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
- The objective and extent of application for IFRS 17
- Core concepts and critical definitions
- Key differences between IFRS 17 and the legacy IFRS 4
Accounting for Insurance Contracts under IFRS 17
- Identifying and categorizing insurance contracts
- Determining the unit of account and portfolio groupings
- Distinguishing between insurance and non-insurance elements
Measurement Frameworks
- The General Measurement Model (GMM)
- The Premium Allocation Approach (PAA)
- The Variable Fee Approach (VFA)
Financial Reporting and Disclosure Standards
- Proper presentation of insurance liabilities within financial statements
- Detailed disclosure obligations mandated by IFRS 17
- Essential data infrastructure and system requirements for full compliance
Assessing the Impact of IFRS 17
- Influence on financial results and profitability metrics
- Implications for insurer capital adequacy and risk management strategies
- Practical case studies illustrating IFRS 17 implementation
Overcoming Implementation Hurdles and Adopting Best Practices
- Addressing operational and technology system challenges
- Fostering cross-departmental cooperation and robust governance structures
- Insights and lessons derived from early adopters
Sustaining Compliance and Long-Term Viability
- Staying aligned with evolving accounting standards
- Continuous monitoring of contract performance in accordance with IFRS 17
- Making strategic pivots to bolster transparency and market competitiveness
Course Conclusion and Future Recommendations
Requirements
- A solid grasp of fundamental accounting principles
- Practical experience with financial statement preparation and reporting processes
- Prior knowledge of insurance operations or financial services is advantageous
Target Audience
- Insurance company executives and staff
- Financial controllers
- Analysts
- Actuaries
- Auditors
- Accountants and other finance industry professionals
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.
