ASHK seminar | September 11-12, 2017
Twenty years in the making, the IASB published IFRS 17 on May 18. IFRS 17 will radically change financial reporting for insurers and all actuaries working in the insurance field will need to be familiar with the new framework. For the second year, the Actuarial Society of Hong Kong is proud to present a seminar on IFRS for insurers aimed specifically at actuaries in Asia. This seminar is specially designed for actuaries who are responsible for financial reporting in compliance with the International Financial Reporting Standards (IFRS) or who need to be familiar with IFRS reporting as part of their work.
Besides an entirely new profit recognition model, new financial reporting format and elaborate disclosures, the new standard is expected to require new models, systems, and processes and may influence the development of future products and investment strategies. The clock is now ticking for insurers who need to begin reporting on this new basis by 2021.
The new standard, along with the basis for conclusions and illustrative examples is several hundred pages in length. Over the course of 2 days, a diverse panel of industry experts will take you through this guidance in the form of lectures and interactive workshops. Topics will cover the accounting models, discounting, risk adjustments, profit recognition, financial statement presentation, disclosures and transition considerations.
The presentation slides and exercise files can be download through the links in the programme or below.
Monday, 11 September
- ASHK Introduction
- Introduction to IFRS 17
- Contract Boundaries & Unbundling [Exercise] [Answer]
- Measurement Models: General Model (GM), Premium Allocation Approach (PAA) & Variable Fee Approach (VFA) [Workshop]
- Cash Flows
- Discounting
- Discounting (Advanced) [Workshop] [Exercise] [Answer]
- Risk Adjustment
- OCI Solution [Workshop] [Exercise] [Answer]
Tuesday, 12 September