Accounting/tax IFRS

News

Aegon UK chooses Legerity for IFRS 17 implementation

Legerity also opens Hong Kong office and hires Asia-Pacific head

Efrag quizzes insurers on IFRS 9 hedge accounting

Questionnaire forms part of IFRS 17 endorsement process

Three quarters of insurers budget IFRS 17 and 9 separately

More than half implement the accounting standards separately

IASB urges insurers not to duplicate governance in IFRS 17

Systems should be as consolidated as possible, says Darrel Scott

IFRS 17 treatment of investment return service likely to attract criticism

IASB answers Efrag's burning questions ahead of consultation

FIS launches Enterprise Accounting System for IFRS 17

Vendor extends Prophet to fill the gap between actuarial and finance systems

IFRS 17 will expose insurers' weak balance sheets in some jurisdictions

But Moody's says IFRS 17 is unlikely to alter its view of insurers' credit ratings

"Cut the reserves until they squeal"

Christopher Cundy comments on the lessons that should be learned from the accounting and actuarial scandal at UK-based Equity Red Star’s Syndicate 218

IASB improves IFRS 17 treatment of deferred annuities

Consultation period cut to 90 days; description of mutual insurers remain but with footnote added

Analysis

Figuring out profit emergence under IFRS 9 and IFRS 17

Gavin Conn and Steven Morrison examine how the choice of liability discount rate affects the expected profit emergence and earnings volatility under IFRS 9 and IFRS 17

Why South Korea leads the way on IFRS 17

South Korea has pioneered the adoption of the new accounting standard for insurance contracts, as well as coping with preparations for a new capital standard at the same time. Martin Sarjeant explains how

Decoding IFRS 17 from an investment perspective

Efforts by the International Accounting Standards Board (IASB) to clarify the definition of investment components within an insurance contract have been welcomed by some stakeholders. However, others argue a new proposal from the board could spark confusion. Cintia Cheong explains

LDTI: a challenge even for the most well-prepared

The US long-duration targeted improvements (LDTI) accounting change is one of the most complex accounting developments ever to hit the US insurance industry. EY's Evan Bogardus and Chad Runchey tell Sarfraz Thind about the implications of the new standard and - why it is so taxing for insurers

Getting IFRS 17 ready for lift off

Despite the recent efforts by the IASB in proposing several changes to ease the implementation of IFRS 17, the new accounting standard for insurance contracts, some in the industry believe more needs to be done. Cintia Cheong rounds up the latest developments on IFRS 17 and the outstanding issues until its launch

Actuarial recruitment: IFRS 17 delay pauses contractor demand

Insurance actuaries remain in demand for traditional tasks as well as a growing range of non-traditional jobs. But recruitment consultants are still waiting to see an IFRS 17-related surge, as Cintia Cheong reports