Are you prepared for IFRS 17?
The financial and operational implications from adoption of IFRS 17 will vary by entity. However, the new standard is expected to bring about pervasive changes for insurers, especially in the areas of:
“Gearing up for a paradigm shift - Are you prepared for IFRS17?” explains the implications of this new reporting standard for insurers and regroups some key learnings from some of the early adopters.
The following paper is an overview of the key features of IFRS 17, the challenges and learning points, as well as suggestions on how insurers can pragmatically approach the implementation of the new standard.
IFRS 17 marks a new epoch for insurance contract accounting
Woo Shea Leen
Tel: +65 6236 3908
Chen Voon Hoe
Partner, Accounting Advisory Leader
Tel: +65 6236 7488
Ang Sock Sun
Partner, Insurance Accounting and Regulatory Advisory Leader
Tel: +65 6236 3638