Impending IFRS 17 regulation will overhaul accounting standards for insurers. 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.
The clock for IFRS 17 implementation is already ticking with the timelines set for 2023/ 2024, which means the system implementation must be largely completed and tested by the end of 2022 before the posting of the 2023 Transition opening balances and comparatives as per the IFRS 17 requirements. It will have a big impact on insurance companies and SAS is already helping many with their implementation journey.
Join our in-depth conversation with our industry and solution experts and partners as we discuss through challenges, best practices, success factors based on real-life case studies on this regulatory accounting journey.
Country Manager, Philippines
Head of Industry Consulting, APJ
IFRS17 Lead & Principal – ASEAN Insurance Risk business, ASEAN
Risk Practice Lead, Philippines
Azendian Solutions Sdn Bhd
Charisse Rossielin Y. Cruz
SGV & Co./EY Philippines