The new IFRS-17: Have insurers got themselves covered?
By Sabra Salum | The Citizen | November 11, 2021
For the financial sector, regulatory change is a constant. From an accounting perspective, one of the most dramatic recent changes (especially for the banking sub-sector) was the International Financial Reporting Standard-9 (IFRS-9) dealing with financial instruments, and which applies to accounting periods beginning on or after January 1, 2018. A similarly dramatic change is in store for the insurance sub-sector – what with the introduction of IFRS-17 on Insurance Contracts. This will replace IFRS-4, and will apply to the accounting periods beginning on or after January 1, 2023.Read More »The new IFRS-17: Have insurers got themselves covered?