KPMG | May 29, 2017
The new insurance contracts standard – IFRS 17 – brings fundamental changes to international insurance accounting.
IFRS 17 will give users of financial statements a whole new perspective. The ways in which analysts interpret and compare companies internationally will change. The standard places insurers reporting under IFRS on a level footing, opening up the ‘black box’ of current insurance accounting.
The new standard brings both benefits and challenges for insurers, who will need to gain an understanding of the accounting changes and the impacts on their businesses.
KPMG shares their presentation slides:
IFRS 17 Insurance Contracts: A new perspective on insurance accounting