How insurers can prepare for the transition to IFRS 17
Insurers are progressing their IFRS 17 transition workstreams to ensure readiness; however, several insurers have raised a number of issues and challenges from the Standard.
In this podcast, Rachel Cromarty and Brian Edey discuss some of the challenges that insurers are facing when preparing for the transition to IFRS 17.
For most insurers with a December year-end, the transition date to IFRS 17 is expected to be 1 January 2021, and many insurers are progressing their transition workstreams to ensure readiness.
For each of the three approaches to transition under IFRS 17, there are implementation challenges. The proposed amendments to these requirements in the recent Exposure Draft from the IASB have been helpful, but there remain a number of areas that are open to interpretation or are difficult for insurers to implement.
For your convenience, full text transcript of this podcast is also available. Read the transcript.
Presenters
Kevin S. Griffith
EY Global IFRS 17 LeaderPodcast
Duration 12m 04s
