Insurance Financial Reporting and IFRS 17 Implementation Course

Course Introduction

The Insurance Financial Reporting and IFRS 17 Implementation Course is designed to equip insurance professionals with comprehensive knowledge and practical skills to navigate the complexities of IFRS 17. Participants will gain expertise in financial reporting, accounting standards, and regulatory compliance for insurance entities.
This program provides a detailed understanding of IFRS 17 principles, including measurement models, contract boundaries, and recognition of insurance liabilities. Professionals will learn to implement accurate financial reporting processes that meet global accounting and regulatory requirements.
Participants will explore technical aspects of revenue recognition, risk adjustment, and discounting methodologies. Practical exercises and case studies will demonstrate how to transition from IFRS 4 to IFRS 17, ensuring precise financial statements and enhanced transparency for stakeholders.
The course covers emerging topics such as data governance, actuarial assumptions, technology integration, and reporting automation. Participants will understand how innovative tools and analytics streamline IFRS 17 implementation, enhance operational efficiency, and support informed decision-making.
Beyond technical application, the program emphasizes internal controls, audit readiness, and compliance monitoring. Professionals will develop the ability to communicate financial insights to management, regulators, and investors while ensuring adherence to corporate governance standards
By the end of the course, participants will be fully equipped to implement IFRS 17 standards within their organizations, optimize reporting workflows, manage insurance accounting challenges, and provide strategic insights that improve financial transparency and investor confidence.

Duration

10 days

Who Should Attend

• Chief Financial Officers and finance directors in insurance companies
• Actuarial professionals and insurance risk managers
• Financial reporting and accounting staff in insurance firms
• Audit and compliance officers for insurance entities
• Investment managers in insurance portfolios
• Insurance consultants and advisory professionals
• Regulatory and governance specialists in the insurance sector
• Financial controllers and accountants implementing IFRS 17
• ERP and insurance software implementation specialists
• Risk and internal control professionals
• Insurance company analysts and financial modelers
• Graduate students in actuarial science or accounting

Course Objectives

• Equip participants with practical skills to implement IFRS 17 insurance accounting standards accurately.
• Develop expertise in measurement models, including General Measurement Model and Premium Allocation Approach.
• Enhance knowledge of contract boundaries, revenue recognition, and insurance liability reporting techniques.
• Build capacity to transition from IFRS 4 to IFRS 17 while ensuring compliance and stakeholder confidence.
• Strengthen ability to apply discounting, risk adjustment, and actuarial assumptions in financial reporting.
• Enable professionals to optimize internal controls, audit processes, and IFRS 17 governance frameworks.
• Provide techniques to leverage technology and data analytics for efficient IFRS 17 implementation.
• Enhance understanding of reporting automation, process standardization, and workflow optimization.
• Develop capability to communicate complex insurance financial information to management and regulators.
• Equip participants to integrate IFRS 17 reporting with enterprise risk management strategies.
• Prepare professionals to identify challenges in financial reporting and provide solutions in insurance contexts.
• Build confidence in delivering transparent, accurate, and regulatory-compliant financial statements under IFRS 17.

Course Outline

Module 1: Introduction to Insurance Financial Reporting

• Overview of insurance accounting and reporting requirements
• Key objectives and benefits of IFRS 17 adoption
• Comparative analysis with IFRS 4 and other standards
• Understanding financial statement impacts on insurers

Module 2: IFRS 17 Standard Principles

• Core principles and recognition criteria for insurance contracts
• Measurement approaches and accounting treatments
• Understanding the general measurement model framework
• Premium allocation approach and simplified reporting options

Module 3: Contract Boundaries and Liability Recognition

• Determining contract boundaries for insurance obligations
• Recognition and derecognition of insurance contracts
• Identifying current and future cash flows for liabilities
• Impact of contract modifications on reporting

Module 4: Revenue and Expense Recognition

• Accounting for insurance revenue and policyholder premiums
• Recognition of insurance service expenses
• Allocation of acquisition costs over contract periods
• Presentation of revenue in financial statements

Module 5: Risk Adjustment and Discounting Techniques

• Quantifying risk adjustment for non-financial risks
• Applying discounting methods to insurance liabilities
• Impact of discount rate changes on financial reporting
• Sensitivity analysis and scenario testing of assumptions

Module 6: Transition from IFRS 4 to IFRS 17

• Preparing for IFRS 17 implementation roadmap
• Data collection and process redesign for compliance
• Retrospective vs. modified retrospective approaches
• Challenges in transitioning existing insurance portfolios

Module 7: Actuarial Assumptions and Modelling

• Role of actuaries in IFRS 17 implementation
• Estimating mortality, morbidity, and lapse assumptions
• Scenario modeling for risk adjustment and discounting
• Integration of actuarial models into financial reporting

Module 8: Financial Statement Presentation

• IFRS 17 presentation requirements for insurers
• Balance sheet and profit & loss statement impacts
• Disclosure and notes for stakeholders and regulators
• Interpreting financial statements under new standards

Module 9: Data Governance and Technology Integration

• Data requirements for IFRS 17 compliance
• ERP systems and insurance software solutions
• Automating reporting workflows and data validation
• Ensuring data quality and traceability for audits

Module 10: Audit and Compliance Considerations

• Internal control frameworks for IFRS 17 reporting
• Audit readiness and documentation best practices
• Compliance monitoring and regulatory reporting
• Addressing common audit challenges in insurance entities

Module 11: Financial Analysis and Ratio Implications

• Key ratios affected by IFRS 17 reporting changes
• Evaluating profitability, solvency, and capital adequacy
• Analysis of financial performance and trend monitoring
• Communicating metrics to management and stakeholders

Module 12: Risk Management Integration

• Linking IFRS 17 reporting to enterprise risk frameworks
• Quantitative risk measurement and reporting strategies
• Scenario analysis and stress testing for insurance portfolios
• Enhancing decision-making with integrated risk insights

Module 13: Investment Portfolio Accounting

• Impact of IFRS 17 on insurer investment portfolios
• Accounting for returns, unrealized gains, and losses
• Integration with asset-liability management practices
• Performance evaluation under new reporting standards

Module 14: Disclosure Requirements

• Comprehensive notes and supplementary reporting obligations
• IFRS 17 disclosure templates and best practices
• Stakeholder communication and transparency enhancement
• Regulatory compliance and consistency in reporting

Module 15: Case Studies and Practical Application

• Real-world IFRS 17 implementation scenarios
• Hands-on exercises in financial statement preparation
• Troubleshooting challenges and common pitfalls
• Group exercises in reporting and compliance solutions

Module 16: Capstone Project

• Develop a complete IFRS 17 financial reporting model
• Apply actuarial assumptions, risk adjustment, and discounting
• Integrate technology, audit controls, and disclosure requirements
• Present results, insights, and recommendations to stakeholders

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement. For further inquiries, please contact us on: Email: training@upskilldevelopment.com Tel: +254 721 331 808

Training Venue 

The training will be held at our Upskill Training Centre. We also offer training for a group (at a discount of 10% to 50%) at requested location all over the world. The Onsite course fee covers the course tuition, training materials, two break refreshments, buffet lunch, airport transfers, Upskill gift package, and guided tour.

Visa application, travel expenses, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Upskill certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request. For booking contact our Training Coordinator through Email: training@upskilldevelopment.com, +254 721 331 808

Terms of Payment:

Unless otherwise agreed between the two parties’ payment of the course fee should be done 3 working days before commencement of the training so as to enable us to prepare better.