KPMG’s IFRS 17 Tool is an end-to-end solution that assists management to perform complex calculations, and create accounting record, financial statements and disclosures for insurance contracts under the IFRS 17 accounting standard.
Business use
- Developed and implemented specifically for IFRS 17
- Clear and visible output, with detailed granularity, results to be used for further reporting activities (unit of account level)
- One web interface access point for all IFRS 17 solutions, including tools for reporting and calculation
Flexibility
- Flexible configuration ready to adapt to changes
- Opportunity to use an integrated platform for financial reporting and disclosures
Compliance
- Audit logs: The old and new values of the transaction updates performed on the application take place in the system
- Application logs: The updates and inserts that users have made on the screens on the application are saved
- Service logs: During service integration, data and user information are kept in the system
- Validation of inputs and IFRS results through tools available on the web interface
Transparency
- Traceability with the ability to drill down to the lowest level
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