IFRS 17: Bridging the Gap

by | Mar 15, 2022 | Regulations

Existing accounting practices in the insurance industry are inconsistent and unclear. This has led to the issuance of IFRS 17 Insurance Contracts – the first international Standard for insurance contracts. Because this Standard is based solely on principle and does...

Data Governance in FIs: Root Cause Analysis

by | Feb 28, 2022 | Data

This series focuses on Data Governance in Financial Institutions. Our first post introduced the fundamentals of Data Governance. This discussion centers on how to find root causes of problems in organizations and recommend actions to solve them.  When analyzing deep...

Optimal Pacing for Private Assets: An Example

by | Jun 16, 2021 | VOR

The FRG Private Capital Forecasting (PCF) solution recently released a module for optimal pacing.  Pacing refers to the planning of future commitments. Future commitments encompass a decision on commitment size as well as a decision on commitment timing. This is done...

The 5 Ws and H of IFRS 17 (Part 2)

by | Jun 3, 2021 | Regulations

Previously, we talked about the 5 Ws of IFRS 17. This blog post (Part 2) will discuss the H: How does IFRS 17 replace IFRS 4? A Consistent Model Figure 1: The components that make up IFRS 17 insurance contract liabilities.[1] IFRS 17 introduces the General Measurement...

The 5 Ws and H of IFRS 17 (Part 1)

by | Apr 20, 2021 | Regulations

International Financial Reporting Standards (IFRS) 17 Insurance Contracts, issued in 2017, represents a major overhaul on financial reporting for insurance companies. However, many in the financial industry are still unfamiliar with the Standards. This blog post, Part...