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...

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...

Economic Impact Analysis for Credit Unions

by | Jun 9, 2020 | Regulations

In a recent webinar I participated in with SAS we discussed Economic Impact Analysis (EIA). While EIA is similar in concept to stress testing, its main goal is to allow credit unions to move quickly to evaluate economic changes to their portfolio—such as those brought...