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12 questions to kickstart your successful transition to IFRS 17

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The final insurance standard will be published in May 2017, according to the IASB. Here are 12 questions to ask yourself as you transition to IFRS 17.

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  • DOWNLOAD FULL BOOKS, INTO AVAILABLE FORMAT ......................................................................................................................... ......................................................................................................................... 1.DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/y6a5rkg5 } ......................................................................................................................... 1.DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/y6a5rkg5 } ......................................................................................................................... 1.DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/y6a5rkg5 } ......................................................................................................................... 1.DOWNLOAD FULL. PDF EBOOK here { https://tinyurl.com/y6a5rkg5 } ......................................................................................................................... 1.DOWNLOAD FULL. EPUB Ebook here { https://tinyurl.com/y6a5rkg5 } ......................................................................................................................... 1.DOWNLOAD FULL. doc Ebook here { https://tinyurl.com/y6a5rkg5 } ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... .............. Browse by Genre Available eBooks ......................................................................................................................... Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult,
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12 questions to kickstart your successful transition to IFRS 17

  1. 1. Notimeto watchandwait 12 questions to kickstart your successful transition to IFRS 17 January 2017 kpmg.com/ifrs
  2. 2. 2© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. Preparationiseverything The new insurance standard will have a significant impact when it comes into effect. Here are 12 questions which should help you get a head start…
  3. 3. Thinkfinancials…
  4. 4. 4© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. 1. Doyouissue non-profitablecontracts? If you currently include these in a profitable portfolio, you may need to account for them separately.
  5. 5. 5© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. 2. Howgranularwillyourdisclosures ofprofitabilityneedtobe? You might need to report at a more detailed level.
  6. 6. 6© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. 3. WillIFRS17makeyour financialresultsmorevolatile? What accounting policy choices could you make to reduce this?
  7. 7. 7© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. 4. HowwillyourKPIschange? How will you help your users understand these changes?
  8. 8. 8© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. 5. Areyouusinganasset-based discountrateforyourliabilities? Consider the impact on equity if such a rate is no longer permitted.
  9. 9. 9© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. If your liabilities shift, you may need to change your asset mix. 6. HowwillIFRS17affecttheway yourassetsandliabilitiesinteract?
  10. 10. 10© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. Have you explored your options under both IFRS 17 and IFRS 9 in order to reduce any accounting mismatches? 7. Whataccountingmismatches couldresult?
  11. 11. 11© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. Thinkoperations…
  12. 12. 12© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. The more lines of business and product versions you have, the more time you’re likely to need to implement. 8. Howdiverse isyourinsuranceportfolio?
  13. 13. 13© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. If not, your transition options may be limited. 9. Isyourhistoricaldata easilyavailable?
  14. 14. 14© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. 10. Whomanagesyourfinancial andembeddedvaluereporting? Leveraging these resources and data will be vital for reporting under IFRS 17.
  15. 15. 15© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. Getwith theprogramme
  16. 16. 16© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. 11. Whatbigchanges haveyounavigatedrecently? Are there synergies you can unlock? For example, from Solvency II?
  17. 17. 17© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. 12. Areyouplanning todeferIFRS9? Do you have sufficient resources and budget?
  18. 18. 18© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. Findoutmore Visit our insurance topic page for KPMG’s insights on accounting change for insurers. Read our other insurance slideshares and Navigating the new world.
  19. 19. 19© 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. © 2017 KPMG IFRG Limited, a UK company, limited by guarantee. All rights reserved. KPMG International Standards Group is part of KPMG IFRG Limited. The KPMG name and logo are registered trademarks or trademarks of KPMG International. KPMG International Cooperative (“KPMG International”) is a Swiss entity that serves as a coordinating entity for a network of independent firms operating under the KPMG name. KPMG International provides no audit or other client services. Such services are provided solely by member firms of KPMG International (including sublicensees and subsidiaries) in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any other member firm, nor does KPMG International have any such authority to obligate or bind KPMG International or any other member firm, in any manner whatsoever. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. kpmg.com/appkpmg.com/socialmedia

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