The International Accounting Standard Board (IASB) issued IFRS 17 as the new Accounting Standard for measurement of liabilities of insurance contracts on May 18, 2017. The Standard is to be applied for financial reporting from January 1, 2022.
The new standard brings significant changes into measurement and accounting of insurance contracts that, without the right strategy, will lead to a time-consuming and expensive overhaul of financial management processes, applications, and operating models.
The impact of IFRS 17 is extensive across your entire organization, affecting the accounting policies, systems, and processes you have in place. For this reason we have an IFRS 17 solution that benefits everyone.
Our automated solution has a proven track record of:
- increasing efficiency,
- decreasing cost, and
- reducing risk across all departments.
We also provide full maintenance and support during the process of data collection, calculations, reporting, and disclosures.
This way you can focus on your business with confidence that you’re in compliance with regulatory standards.
Resource prepared by experts
Functionalities of IFRS17 demonstrated on simple contract
A breakdown of functionalities based on a simple 3 year contract.Download
In its 2020 Magic Quadrant for Cloud Financial Planning & Analysis Solutions, Garter recognised Wolters Kluwer’s CCH Tagetik as a field leader.
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