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

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