Moody’s Analytics and their partners are committed to helping insurers to meet requirements of the new International Financial Reporting Standard (IFRS) 17 that has an effective date of 1 January 2021.
The implementation of the new accounting standard is likely to disrupt the global insurance industry, driving discussion around the financial reporting implications and the challenges of managing new data flows and developing new assumptions. A large part of the uncertainty is caused by the need for accountants and actuaries to start working more closely together. While the standard is written by the accounting profession, implemented under corporate finance control and subject to the review and approval of auditors, its implementation will depend on actuarial input – both in identifying or generating input data and in designing and operating key portions of the overall solutions.
Download our whitepaper to learn why IFRS17 is a joint actuarial and accounting responsibility from start to finish, taking into consideration:
• Solutions that come to the fore
• A new approach to actuarial input
For more information on how to partner with Moody’s Analytics on IFRS 17 projects contact us on PartnerAlliance@moodys.com