IFRS – Insurance
IFRS – Insurance
KPMG’s insights on accounting change for insurers.
KPMG’s insights on accounting change for insurers.
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Insurance – IFRS 4 amendments
Insurance – IFRS 4 amendments
Amendments respond to industry concerns about the impact of differing effective dates
Amendments respond to industry concerns about the impact of differing effective dates
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New insurance contracts standard
New insurance contracts standard
Accounting for insurance contracts is changing. It’s time to prepare for the impacts on your business.
Accounting for insurance contracts is changing. It’s time to prepare for the impacts on your business.
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Mapping your insurance accounting change program
Mapping your insurance accounting change program
Reaching the best outcome requires a ‘living plan’ with defined objectives, clear accountabilities and realistic timelines.
Reaching the best outcome requires a ‘living plan’ with defined objectives, clear accountabilities and realistic timelines.
Considerable accounting changes for insurers on the way
The IASB’s insurance contracts project aims to increase transparency and to reduce diversity in the accounting for insurance contracts. The final standard is expected to be published in the first half of 2017 and it would be applied for annual periods beginning on or after 1 January 2021.
The magnitude of evolving insurance accounting change should not be underestimated, particularly when considering the impact of the new financial instruments and revenue standards. If insurers start planning now, the wave of change could open up opportunities for synergies.
Our materials will help you understand the evolving proposals and assess the potential impact on your company. Look out for further updates.
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