Anyone
interested to join workshop about the Interactions between IFRS 9 and IFRS 17..
please ping me also about the comparison of the 'IFRS9 and IFRS17'; white paper.
With accounts departments generally dealing with historical data and risk functions dealing with forward looking models, questions are being raised as to what overlap there is between current risk management and accounting information and the roles of risk and finance departments in the programmes.
the IFRS 9 Impairment And IFRS17 CSM Implementation are bringing together the leading independent experts and financial risk, finance and accounting experts to address the critical challenges, and opportunities, being faced in IFRS 9 and IFRS 19. As the IFRS 17 making changes to the valuation of liabilities, IFRS 9 mainly have had (or will be) impacting the valuation of assets.
IFRS 9 affects measurement, impairment and hedge accounting of financial instruments.
and the IFRS 17 (principle based approach) evaluates all relevant insurance contracts and introduces a contractual service margin A new KPI form the Balance sheet figures.
AS we predicted the accounting mismatches aroused from IFRS 9 valuated instruments on the asset side are to be expected to improved, since insurance contracts could have will be included on the financial instruments which are linked to corresponding investments (especially life insurance contracts category).
It made surprised to know that insurers can postpone the original IFRS 9 implementation date (01.01.2018) to the IFRS 17 effective (now revised to 2023, date to cover up the accounting mismatches (deferral approach) upfront.
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