Getting On The Fast Track To IFRS 17: Interim Reporting Choices

IFRS 17, Insurance Contracts, introduces significant changes in financial reporting by insurers that report using IFRS. Many insurers are hard at work updating their annual reporting and closing processes; however, don’t forget that interim reporting has its own specific considerations which will need to be planned for.

An interim report, whether quarterly, or half yearly will often be the first set of results that many insurers will release to the market in accordance with IFRS 17 and brings additional considerations that insurers cannot afford to address late in the game, especially as interim results are usually reported to a tight timescale.

To help insurers accelerate their implementation of IFRS 17, a webcast sharing insights from KPMG International’s latest publication Interim reporting choices under IFRS 17 is being offered to you and your clients. 

We’ll discuss some important issues to consider as insurers plan for their initial set of interims on an IFRS 17 basis and suggest some key areas they should consider transforming as part of their IFRS 17 program to keep their finance function on the fast track.

IFRS 17, Insurance Contracts, introduces wholesale change in performance reporting by insurers that report using IFRS.

Many insurers present interim reports under IAS 34 and are well advised to focus on the specific features of interim reporting as they plan for life in an IFRS 17 world.

Following the webcast, participants should be able to explain at a high level:

• The impacts of an accounting policy choice under IFRS 17 that specifically relates to interim reporting;
• Factors to consider in planning for their initial interim report;
• Some key areas they should consider transforming as part of their IFRS 17 program to keep their finance function on the fast track.

This webcast will last approximately 60 minutes. It will be recorded and a link circulated for those unable to attend.