Date(s) - 13/10/2021 - 14/10/2021
10:00 am - 2:00 pm
Registrations for this course close on Monday the 11th of October.
This course is designed to help kick off the processes related to IFRS 17. It is aimed at not only preparers and users of accounts but also implementation team members and will help them get to grips with IFRS 17 by providing, at the very least, an initial working knowledge of the rules, how the numbers are constructed and presented and the story that they are telling.
- Day 1: 13th October 2021 from 10am to 2pm UK time
- Day 2: 14th October 2021 from 10am to 2pm UK time
- Zoom live training. Plus, materials and example Excel sheets.
Agenda (over 2 days):
- General Model
- Risk Adjustment
- Contractual Service Margin
- IFRS 17 reporting
- Variable Fee Approach
- Premium Allocation Approach
- Acquisition costs
- Onerous contracts
- OCI option
- Full-retrospective approach
- Modified retrospective approach
- Fair-value approach
- Implementation considerations
- Exercises / Case studies
Benefits of attendance:
- Minimize the learning curve for getting up to speed on IFRS 17
- Appreciate the major technical differences between the existing IFRS 4 and IFRS 17 requirements
- Evaluate the significant impact of these differences through the use of real-world financial statements
- Providing a vital first time appreciation of IFRS 17 that will help to plan ahead for its implementation
- Evaluate the method and timetable for transition to IFRS 17
Who should attend?
- This course is designed for those who wish to learn about the critical technical differences between the accounting and reporting requirements of existing IFRS 4 (and industry practice) and IFRS 17.
- It will be highly relevant to finance, risk and actuarial team members preparing for the changes in insurance contract accounting practice.
- The course is designed for executive officers, industry controllers, analysts, actuaries, auditors and finance professionals who wish to gain a working knowledge of this large new standard.
- An awareness of basic accounting principles applied by any national set of standards.
- No advance preparation is required for this course.
The course is run by a Chartered Accountant and CPA Australia Associate with more than 15 years experience including implementation of the SAP tool of IFRS17 in a major reinsurer. The trainer also specialises in IFRS 9.