謹轉知

                                                                            May 18, 2017                                                      

International Financial Reporting Standard (IFRS) 17—Insurance Contracts, has just been released. It is the latest IFRS to be developed by the International Accounting Standards Board (IASB) whose standards are used in more than 100 countries for the preparation of public company financial statements.

To support IAA members and actuaries worldwide with the application and implementation of IFRS 17, the IAA's Actuarial Standards Committee is working on a model International Standard of Actuarial Practice (ISAP4), which will guide actuaries in the use of IFRS 17. The ISAP 4 exposure draft is currently scheduled to be released for comments by January 2018 and the final ISAP 4 approved in 2019. This timetable allows sufficient time for wide consultation with IAA members and stakeholders.

The IAA's support for IFRS 17 is also being demonstrated by the work of its Insurance Accounting Committee's Education and Practice Subcommittee. The subcommittee's mission is to develop and maintain information of an educational and practice nature that will be useful to actuaries globally in the area of insurance accounting and auditing. This includes International Actuarial Notes (IANs) and other educational material such as monographs and books relating to actuarial practice in the context of financial reporting of insurers. In support of that mission the subcommittee is developingseveral IANs, which will include an introduction to IFRS 17, approaches to classifications of contracts required by IFRS 17, current estimates and discount rates, risk adjustment, the contractual service margin, and many other topics. Drafts of many of these IANs are expected to be available by the end of 2017.

Another of the subcommittee's projects is the production of a monograph on risk adjustments as required by IFRS 17.  An exposure draft was released in November 2016, and experts' responses have been compiled. Following discussion at the IAA committee meetings in Budapest in April, the plan is for the document to be finalized by the end of August 2017.