Impending IFRS 17 regulation will overhaul accounting standards for insurers, primarily in the European Union, Asia, Latin America and Canada. Greater detail, transparency and comparability will give analysts and investors more insight into a company’s financial health than ever before.
For most insurers, the transition to IFRS 17 will have a visible impact on financial statements and key performance indicators – and not in a good way. Implementing the IT architecture for it will be a serious undertaking.
This white paper explains why insurers should be taking action now to prepare for the new requirements, and what to look for in an IFRS 17 solution.
To meet evolving regulatory mandates, companies around the world are adopting International Financial Reporting Standards (IFRS), a set of methodologies and disclosure requirements for the preparation and presentation of financial statements. Yet making the transition to IFRS is not just a rote accounting exercise.
Credit Union Times is the nation's leading independent source for breaking news and analysis for credit union leaders. For more than 20 years, Credit Union Times has set the standard for editorial excellence and ethical, straight-forward reporting.