Insight
IFRS 17: Transition practical issues
We cover some of the practical issues companies experience when calculating the impact of transitioning to IFRS17 on their balance sheets.
IFRS 17 requires preparers of accounts to derive discount rates for the valuation of the cash flows associated with their insurance contracts. Conceptually setting a discount rate to reflect the time value of money and thereby to allow an expression of amounts to be paid or received at different future times in terms of a single consistent “currency” is relatively straightforward.
Insight
We cover some of the practical issues companies experience when calculating the impact of transitioning to IFRS17 on their balance sheets.
Setting discount rates under IFRS 17: Getting the job done
IFRS 17 requires preparers of accounts to derive discount rates for the valuation of the cash flows associated with their insurance contracts.