Accounting/tax IFRS
News
Most supervisors rule out IFRS 17 usage for regulatory solvency purposes
IMF/BIS paper concluded most surveyed jurisdictions see no justification to change existing requirements
BDO fined and reprimanded for AmTrust audit failings
Breaches were not intentional, says FRC
IFRS 17 vendors taking different tax approaches
Reinsurance should be a high priority in vendor solutions, says PwC's Richard Hart
IASB proposes taxonomy updates for IFRS 17 and IFRS 4
Deadline for comments is 14 September
FASB formally proposes LDTI delay
Deadline for comments is 24 August
Efrag approves IFRS 9 deadline postponement
Stakeholders have until 3 July to comment on endorsement
Final IFRS 17 expected on 25 June
The IASB has proposed several changes to the standard since October 2018
RSA Ireland's former CFO disqualified and fined €70,000 over reserving scandal
Rory O'Connor's misconduct was deliberate and below standards, says regulator
FIS: LDTI delay would boost smaller insurers' transformation
Insurers need to review continuity plans from Covid-19 disruptions, the firm says
Korean insurer adopts FIS Prophet for IFRS 17 and business integration
FIS to help roll out IFRS 17 architecture for merged business
Analysis
IASB issues final version of IFRS 17
The deferral of implementation to 2023 and the reinsurance accounting changes are most welcomed by insurers. Cintia Cheong reports
The key decisions in Samsung Life's journey to IFRS 17 implementation
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Samsung Life's Jeong Hyeok Park and Deloitte Korea's Byoung Shin tell Cintia Cheong how the insurer is implementing the new accounting regime and what they make of the recent amendments to the standard
Choosing KPIs for IFRS 17
IFRS 17 is bringing a fundamental change in the accounting of re/insurance contracts for more than a thousand insurance entities around the world. Milena Lacheta and Wijdan Yousuf explain what analysts, rating agencies and auditors are thinking about measuring performance under the new standard
Actuarial recruitment: a pause for the pandemic
Cintia Cheong reports on the how the actuarial job market in the UK is faring amid the coronavirus pandemic, the IR35 tax changes and the implementation of IFRS 17
IFRS 17 in the UAE: the real issue is lack of expertise
Oscar Kitasoboka, chief actuary at the UAE Insurance Authority, talks to Cintia Cheong about the IFRS 17 challenges facing the country's insurers in comparison to other regions
Chubb's Barney Wanstall: creating the 'end-to-end' IFRS 17 solution
One of the biggest challenges for insurers implementing the IFRS 17 accounting standard is creating a seamless and robust system that takes in all the relevant information and produces the required numbers, as Chubb's head of IFRS 17 implementation in 25 countries explains to Cintia Cheong