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Five Common Pitfalls of IFRS 17 Compliance

In this article, we explore common IFRS 17 compliance mistakes and how you can avoid them. 

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Created to improve the transparency of the insurance companies, IFRS 17: Insurance Contracts brings both opportunities and challenges.

On the one hand, IFRS 17 gives insurers a chance to improve their insight into profitability and a platform to up investor confidence. On the other hand, setting a foundation for compliance isn’t easy. IFRS 17 tasks insurers with an array of compliance obligations including new calculations, granular data disclosures, tedious reporting requirements, and a need for stringent governance and control.

In Five Common Pitfalls of IFRS 17 Compliance, we explore five common IFRS 17 pitfalls, so you take action to avoid them.