Course Format & Delivery Details Learn IFRS 17 Your Way, On Your Schedule - No Guesswork, No Risk
You’re investing in your career. That means clarity, security, and guaranteed value - not vague promises or uncertain outcomes. This course is engineered for professionals like you who demand precision, accountability, and proven results. Every detail has been optimized to maximize your confidence and eliminate friction. Self-Paced Learning with Immediate Online Access
From the moment you enroll, you gain structured, step-by-step access to all course materials. The system adjusts to your rhythm - whether you're studying late at night, during lunch breaks, or weekends. There are no fixed start dates, no mandatory live sessions, and no time-sensitive requirements. You progress at your pace, on your terms, with full control over your learning timeline. Designed for Speed, Built for Depth
Most learners complete the program in 6 to 8 weeks with 6 to 8 hours of study per week. However, many report applying core IFRS 17 concepts to their work within the first 72 hours. The modular design ensures you can fast-track your understanding of critical areas like Liability for Remaining Coverage and Fulfilment Cash Flows while diving deep into Profit Recognition Pathways when you're ready. Lifetime Access with Ongoing Updates Included
IFRS standards evolve. Your knowledge should too. Enroll once, and you’ll receive lifetime access to all content, including updates as interpretations and technical corrections emerge globally. No annual fees, no renewal costs, no surprise charges. This is your permanent, up-to-date reference for mastering insurance contract accounting under current and future reporting conditions. Accessible Anytime, Anywhere - Desktop or Mobile
Whether you’re at your desk, commuting, or traveling internationally, you can access your course from any device with a browser. The interface is fully responsive, optimized for smartphones, tablets, and desktops. Study offline, sync progress, and track milestones across devices - your journey stays uninterrupted, no matter where work takes you. Expert-Led Support and Direct Instructor Guidance
Stuck on CSM amortization? Unclear how discount rates impact future cash flows? Every learner receives direct access to experienced IFRS 17 specialists for clarification, guidance, and real-world application insights. This isn’t automated support or AI chatbots - you interact with actual accountants and auditors who've implemented IFRS 17 across multinational insurers and reinsurance groups. Receive a Certificate of Completion from The Art of Service
Upon finishing the program, you earn a Certificate of Completion issued by The Art of Service - a globally recognized provider of professional training in accounting, risk, and compliance. This credential is respected by firms across Europe, Asia, North America, and the Middle East. It demonstrates rigor, technical depth, and commitment to staying ahead in financial reporting standards - a strategic asset for promotions, job interviews, or client engagements. No Hidden Fees - Transparent, One-Time Investment
The price you see is the price you pay - no upsells, no add-ons, no recurring charges. The entire course, including lifetime updates, support, grading, and certification, is covered in a single straightforward fee. We believe in transparency because we’re confident in the value you'll receive. Payment Options You Can Trust
We accept all major payment methods including Visa, Mastercard, and PayPal. Transactions are processed securely with end-to-end encryption, and your financial data is never stored or shared. Enroll with confidence using the payment method that suits you best. 100% Money-Back Guarantee - Zero Risk Enrollment
If you complete the course and find it doesn’t meet your expectations for clarity, practicality, or career ROI, contact us within 30 days for a full refund. No questions, no forms, no hassle. This is our promise to you: you either gain mastery, or you don’t pay. What to Expect After Enrollment
After registration, you’ll receive a confirmation email acknowledging your enrollment. Shortly after, a separate message will deliver your access credentials and instructions for entering the learning portal. This ensures your experience is seamless and your information is protected. Your access is activated as soon as the course materials are fully prepared and ready for optimal learning delivery. Will This Work For Me?
Yes - and here's why. This program was designed for real professionals in complex environments. - If you're an actuarial analyst struggling to align technical reserves with accounting outputs, you’ll gain the framework to bridge both worlds.
- If you're a financial reporting manager preparing for audit season, you’ll learn exactly how to justify CSM calculations and fulfilment cash flow assumptions.
- If you're a senior accountant transitioning into insurance finance, you’ll accelerate your understanding of coverage units, risk adjustment methodologies, and grouping requirements.
- If you're a CFO or audit partner, you’ll master disclosure templates and governance protocols that satisfy regulators and audit committees.
Social proof confirms it works: 94% of past participants report immediate improvements in their IFRS 17 reporting accuracy. One pricing actuary in Zurich used the course to resolve a three-month stalemate on discount rate selection. A financial controller in Singapore implemented the aggregation group mapping framework and cut month-end reporting time by 40%. This works even if you have no prior experience with IFRS 17, if your company hasn’t adopted the standard yet, or if you’re returning to accounting after years in another field. The content builds from foundational principles to boardroom-ready expertise. Your Career Deserves Certainty - We Remove the Risk
This isn’t a gamble. You get structured knowledge, proven tools, and a recognized credential - all backed by a complete satisfaction guarantee. You’re not just learning IFRS 17. You’re future-proofing your relevance in a world where financial accuracy underpins trust, compliance, and leadership. The risk is on us. The reward is yours.
Extensive & Detailed Course Curriculum
Module 1: Foundations of Insurance Contract Accounting - Understanding the purpose and scope of IFRS 17
- Key differences between IFRS 4 and IFRS 17
- Identifying contracts that fall under IFRS 17
- Contracts that are explicitly excluded from IFRS 17
- How IFRS 17 interacts with other IFRS standards
- The evolution of insurance accounting standards globally
- Overview of the three measurement models: General Model, Premium Allocation, and Variable Fee Approach
- The role of prudence in previous standards vs relevance and faithful representation in IFRS 17
- Why IFRS 17 reduces profit smoothing and volatility smoothing
- Understanding the core objective: providing useful information to users of financial statements
- Key challenges during transition from IFRS 4 to IFRS 17
- Overview of transition methods: full retrospective, modified, and fair value options
- Defining the date of initial application
- Common misconceptions about IFRS 17 complexity
- Setting realistic learning goals for mastery
Module 2: IFRS 17 Measurement Models in Practice - When to apply the General Measurement Model (GMM)
- Conditions for using the Premium Allocation Approach (PAA)
- Determining eligibility for the Variable Fee Approach (VFA)
- Step-by-step implementation of GMM for comprehensive contracts
- Calculating the Fulfilment Cash Flows (FCF) components
- Estimating future cash flows using probability-weighted methods
- Discounting future cash flows using current market yields
- Selecting appropriate discount rates for long-duration contracts
- Modelling risk adjustment for non-financial risk
- Techniques for determining the Confidence Level used in risk adjustment
- Incorporating expected lapses and surrenders in cash flow projections
- Handling dynamic lapses based on economic conditions
- Adjusting for estimated expenses, including acquisition and maintenance
- Inflation indexing of future cash flows
- Integrating mortality, morbidity, and persistency assumptions
- Modelling commissions and agent bonuses
- Accounting for reinsurance contracts held
- Assessing coverage periods and remaining coverage units
- Grouping contracts for measurement: general principles
- Identifying meaningful differences in risk and cash flow patterns
- Merging and splitting groups during the contract lifecycle
Module 3: Contractual Service Margin (CSM) Framework - Defining the Contractual Service Margin (CSF) components
- Initial recognition of CSM at contract inception
- Why CSM represents unearned profit
- Amortization of CSM over the coverage period
- Linking CSM release to coverage units provided
- Calculating coverage units: time-based vs transaction-based methods
- Adjustment of CSM for changes in fulfilment cash flows
- Impact of assumptions changes on CSM recalibration
- Distinguishing between favourable and adverse variance
- Allocating changes in CSM to profit or loss
- Handling currency translation effects on CSM
- CSM treatment for contracts with participating features
- Interaction between CSM and dividend declarations
- CSM adjustments for revised estimates and actual experience
- Accounting for onerous contracts and impairment triggers
- Recognizing loss components separately from CSM
- Recovery of previously recognized losses
- CSM rollforward reporting templates
- Documenting CSM assumptions and audit trails
- Practical case study: CSM amortization for a multi-year life policy
Module 4: Variable Fee Approach (VFA) Deep Dive - Identifying contracts that qualify for VFA
- Contracts with direct participation features
- Contracts where fees vary with underlying items
- Assessing materiality of fee variability
- Measuring the liability for remaining coverage under VFA
- Relationship between variable fees and investment components
- Allocating variable fees to service periods
- Impact of fund performance on profit recognition
- Modelling bonus allocation mechanisms
- Accounting for management fees linked to assets under management
- Treatment of policyholder dividends and profit sharing
- Disclosure requirements specific to VFA contracts
- Interaction between VFA and general model fallbacks
- Transition rules for contracts moving to VFA
- Actuarial considerations for variable fee projections
- Integrating market-linked assumptions into cash flows
- Case study: Applying VFA to unit-linked insurance products
- Reporting VFA liabilities across subsidiaries
- Audit testing of fee variability assertions
- Common implementation pitfalls in VFA application
Module 5: Premium Allocation Approach (PAA) Applications - Identifying short-duration contracts eligible for PAA
- Contracts with coverage periods of one year or less
- Contracts where PAA produces materially similar results to GMM
- Measuring liabilities using unearned premium plus loss component
- Recognizing premiums on a straight-line basis over coverage period
- Deferring acquisition costs under PAA
- Amortizing costs in proportion to premium recognition
- Assessing loss components at each reporting date
- Recovering onerous contract losses in future periods
- Transitioning from GMM to PAA when conditions change
- Grouping PAA contracts for efficient reporting
- Disclosure requirements for PAA policies
- Comparing financial outcomes under PAA vs GMM
- Practical example: PAA for property and casualty insurance
- Handling mid-term cancellations under PAA
- Adjusting for claims incurred but not reported (IBNR)
- Integrating claims development patterns
- Mapping PAA to existing GAAP reserves
- Auditor expectations for PAA justification
- Documentation standards for PAA eligibility
Module 6: Reinsurance Contracts Held and Ceded - Distinguishing between reinsurance contracts held and ceded
- Applying IFRS 17 to reinsurance assets
- Measuring reinsurance CSM separately from direct insurance
- Grouping reinsurance contracts by underlying risk
- Discounting reinsurance recovery cash flows
- Modelling timing lags in reinsurance settlements
- Estimating credit risk of reinsurers
- Incorporating recovery rates in fulfilment cash flows
- Handling currency mismatches between ceded and direct contracts
- Identifying embedded derivatives in reinsurance agreements
- Separating investment components from risk transfer
- Assessing significant insurance risk in reinsurance
- Transferring contractual service margin to cedant
- Recognition of reinsurance profits over time
- Matching reinsurance releases with underlying claims
- Fair value overlays for capital market-linked treaties
- Drafting reinsurance reporting templates for consolidation
- Intercompany eliminations under IFRS 17
- Disclosure requirements for reinsurance recoverables
- Audit focus areas for reinsurance valuations
- Case study: Retrocession arrangements under IFRS 17
Module 7: Transition and Practical Implementation - Choosing between full retrospective and modified approaches
- Applying the practical expedient for contracts at initial application
- Carryforward of CSM from IFRS 4 deemed cost
- Measuring Fulfilment Cash Flows as of transition date
- Documentation requirements for transition elections
- Preparing reconciliations between IFRS 4 and IFRS 17
- Managing data gaps during transition
- Validating historical assumptions with actuarial models
- Integrating IFRS 17 into general ledger systems
- Aligning chart of accounts with new reporting structure
- Setting up intercompany chargeback mechanisms
- Training finance teams on new terminology and processes
- Developing IFRS 17 project plans with timelines
- Engaging auditors early in implementation
- Establishing governance committees and RACI matrices
- Managing stakeholder expectations across departments
- Creating user acceptance testing (UAT) protocols
- Building automated controls for data integrity
- Implementing version control for assumptions
- Running parallel reporting under IFRS 4 and IFRS 17
- Performing dry runs before go-live
- Developing post-implementation review checklists
Module 8: Disclosure Requirements and Financial Reporting - Understanding minimum disclosure objectives under IFRS 17
- Quantitative disclosures for insurance contract liabilities
- Reconciliations of beginning and ending balances
- Breakdown of changes in CSM for the period
- Separate presentation of RFR, risk adjustment, and CSM
- Tabular disclosures of cash flow projections
- Roll-forwards of Fulfilment Cash Flows
- Disclosure of significant assumptions used
- Presenting sensitivity analyses for key inputs
- Explaining choice of discount rates and risk margins
- Describing methodologies for mortality and lapse assumptions
- Reporting amortization of acquisition costs
- Presenting profit emergence patterns by cohort
- Segment reporting of insurance activities
- Geographic breakdowns of insurance exposure
- Line of business disclosures
- Interim reporting requirements under IFRS 17
- MD&A narrative enhancements for investors
- Comparative period disclosures
- First-time adopter disclosures
- Regulatory alignment with Solvency II and local GAAP
- Integrating IFRS 17 disclosures into annual reports
- Template preparation for audit-ready filings
Module 9: Actuarial Models and Data Foundations - Core data requirements for IFRS 17 modelling
- Granularity levels needed for accurate grouping
- Mapping product codes to IFRS 17 classifications
- Building policy-level datasets for measurement
- Data validation rules for actuarial inputs
- Integrating billing, claims, and underwriting systems
- Designing data warehouses for insurance finance
- Automating data feeds from core administration systems
- Selecting appropriate actuarial software platforms
- Validating model outputs with back-testing
- Version control for actuarial models
- Model governance and change management
- Defining roles for model validation teams
- External audit review of models and assumptions
- Documenting model assumptions for transparency
- Scenario testing and stress testing frameworks
- Generating deterministic and stochastic outcomes
- Producing model output reports for finance teams
- Ensuring computational accuracy and reproducibility
- Handling outliers and data anomalies
- Creating model inventory registers
- Complying with actuarial standards of practice
Module 10: Audit, Compliance, and Regulatory Considerations - Understanding auditor expectations under IFRS 17
- Key assertions tested during IFRS 17 audits
- Existence, completeness, accuracy, and cut-off testing
- Evaluating measurement model selection rationale
- Reviewing reasonableness of assumptions
- Assessing adequacy of disclosure packages
- Preparing for detailed walkthroughs and substantive testing
- Responding to auditor inquiries and requests
- Developing audit response teams and protocols
- Managing auditor queries on CSM calculations
- Complying with ISA 540 on accounting estimates
- Documentation standards for significant judgements
- Internal control frameworks for IFRS 17
- COSO alignment for finance processes
- Segregation of duties between actuarial and finance
- Preventing undue management influence on assumptions
- Complying with local regulatory reporting
- Coordinating with insurance supervisors and central banks
- Handling regulatory inquiries on capital and reserves
- Monitoring IFRS Interpretations Committee updates
- Tracking amendments and implementation guidance
- Participating in consultation papers and exposure drafts
- Maintaining regulatory correspondence files
Module 11: Advanced Topics and Edge Cases - Accounting for contracts with embedded derivatives
- Separating non-insurance components from insurance contracts
- Treatment of investment contracts with discretionary benefits
- Contracts without significant insurance risk
- Accounting for capital guarantee products
- Treatment of annuities with guaranteed minimum benefits
- Long term care insurance under IFRS 17
- Social insurance and government-mandated programs
- Contracts issued by non-insurance entities
- Employee benefit contracts and IFRS 17 boundaries
- Treatment of finite risk insurance arrangements
- Contract modifications and novations
- Handling renewals and extensions
- Early terminations and surrender penalties
- Treatment of policy loans and collateral
- Reinstatement of lapsed contracts
- Contracts in runoff or with no new business
- Orphaned blocks and legacy portfolio management
- Treatment of contracts in liquidation
- Accounting for insurance contracts in foreign currency
- Translation and remeasurement procedures
- Effective date provisions for delayed implementations
- Materiality thresholds for portfolio segmentation
Module 12: Certification and Career Advancement - Final assessment structure and requirements
- Preparing for mastery-level certification exam
- Reviewing common exam pitfalls and mistakes
- Time management strategies for certification test
- How to demonstrate applied knowledge in assessments
- Submitting project work for evaluation
- Receiving feedback and improvement guidance
- Progress tracking through the learning dashboard
- Earning your Certificate of Completion
- Verification process for credential authenticity
- Displaying your certification on LinkedIn and resumes
- Leveraging your credential in performance reviews
- Negotiating salary increases with new expertise
- Positioning yourself for promotions in finance teams
- Becoming the go-to IFRS 17 expert in your organization
- Networking with other certified professionals
- Contributing to IFRS 17 working groups
- Transitioning into specialized roles: actuarial finance, reporting, or audit
- Next steps: pursuing deeper specializations or certifications
- Staying current with IFRS 17 developments
- Setting personal development goals post-certification
- Accessing alumni resources and advanced content
- Participating in continuous learning opportunities
- Building thought leadership through writing and speaking
- Updating your professional profile with new competencies
- Using gamified progress tracking to stay motivated
- Celebrating milestones throughout your journey
- Lifetime access to career advancement resources
- Final checklist before certification submission
- How to achieve elite status in insurance accounting
Module 1: Foundations of Insurance Contract Accounting - Understanding the purpose and scope of IFRS 17
- Key differences between IFRS 4 and IFRS 17
- Identifying contracts that fall under IFRS 17
- Contracts that are explicitly excluded from IFRS 17
- How IFRS 17 interacts with other IFRS standards
- The evolution of insurance accounting standards globally
- Overview of the three measurement models: General Model, Premium Allocation, and Variable Fee Approach
- The role of prudence in previous standards vs relevance and faithful representation in IFRS 17
- Why IFRS 17 reduces profit smoothing and volatility smoothing
- Understanding the core objective: providing useful information to users of financial statements
- Key challenges during transition from IFRS 4 to IFRS 17
- Overview of transition methods: full retrospective, modified, and fair value options
- Defining the date of initial application
- Common misconceptions about IFRS 17 complexity
- Setting realistic learning goals for mastery
Module 2: IFRS 17 Measurement Models in Practice - When to apply the General Measurement Model (GMM)
- Conditions for using the Premium Allocation Approach (PAA)
- Determining eligibility for the Variable Fee Approach (VFA)
- Step-by-step implementation of GMM for comprehensive contracts
- Calculating the Fulfilment Cash Flows (FCF) components
- Estimating future cash flows using probability-weighted methods
- Discounting future cash flows using current market yields
- Selecting appropriate discount rates for long-duration contracts
- Modelling risk adjustment for non-financial risk
- Techniques for determining the Confidence Level used in risk adjustment
- Incorporating expected lapses and surrenders in cash flow projections
- Handling dynamic lapses based on economic conditions
- Adjusting for estimated expenses, including acquisition and maintenance
- Inflation indexing of future cash flows
- Integrating mortality, morbidity, and persistency assumptions
- Modelling commissions and agent bonuses
- Accounting for reinsurance contracts held
- Assessing coverage periods and remaining coverage units
- Grouping contracts for measurement: general principles
- Identifying meaningful differences in risk and cash flow patterns
- Merging and splitting groups during the contract lifecycle
Module 3: Contractual Service Margin (CSM) Framework - Defining the Contractual Service Margin (CSF) components
- Initial recognition of CSM at contract inception
- Why CSM represents unearned profit
- Amortization of CSM over the coverage period
- Linking CSM release to coverage units provided
- Calculating coverage units: time-based vs transaction-based methods
- Adjustment of CSM for changes in fulfilment cash flows
- Impact of assumptions changes on CSM recalibration
- Distinguishing between favourable and adverse variance
- Allocating changes in CSM to profit or loss
- Handling currency translation effects on CSM
- CSM treatment for contracts with participating features
- Interaction between CSM and dividend declarations
- CSM adjustments for revised estimates and actual experience
- Accounting for onerous contracts and impairment triggers
- Recognizing loss components separately from CSM
- Recovery of previously recognized losses
- CSM rollforward reporting templates
- Documenting CSM assumptions and audit trails
- Practical case study: CSM amortization for a multi-year life policy
Module 4: Variable Fee Approach (VFA) Deep Dive - Identifying contracts that qualify for VFA
- Contracts with direct participation features
- Contracts where fees vary with underlying items
- Assessing materiality of fee variability
- Measuring the liability for remaining coverage under VFA
- Relationship between variable fees and investment components
- Allocating variable fees to service periods
- Impact of fund performance on profit recognition
- Modelling bonus allocation mechanisms
- Accounting for management fees linked to assets under management
- Treatment of policyholder dividends and profit sharing
- Disclosure requirements specific to VFA contracts
- Interaction between VFA and general model fallbacks
- Transition rules for contracts moving to VFA
- Actuarial considerations for variable fee projections
- Integrating market-linked assumptions into cash flows
- Case study: Applying VFA to unit-linked insurance products
- Reporting VFA liabilities across subsidiaries
- Audit testing of fee variability assertions
- Common implementation pitfalls in VFA application
Module 5: Premium Allocation Approach (PAA) Applications - Identifying short-duration contracts eligible for PAA
- Contracts with coverage periods of one year or less
- Contracts where PAA produces materially similar results to GMM
- Measuring liabilities using unearned premium plus loss component
- Recognizing premiums on a straight-line basis over coverage period
- Deferring acquisition costs under PAA
- Amortizing costs in proportion to premium recognition
- Assessing loss components at each reporting date
- Recovering onerous contract losses in future periods
- Transitioning from GMM to PAA when conditions change
- Grouping PAA contracts for efficient reporting
- Disclosure requirements for PAA policies
- Comparing financial outcomes under PAA vs GMM
- Practical example: PAA for property and casualty insurance
- Handling mid-term cancellations under PAA
- Adjusting for claims incurred but not reported (IBNR)
- Integrating claims development patterns
- Mapping PAA to existing GAAP reserves
- Auditor expectations for PAA justification
- Documentation standards for PAA eligibility
Module 6: Reinsurance Contracts Held and Ceded - Distinguishing between reinsurance contracts held and ceded
- Applying IFRS 17 to reinsurance assets
- Measuring reinsurance CSM separately from direct insurance
- Grouping reinsurance contracts by underlying risk
- Discounting reinsurance recovery cash flows
- Modelling timing lags in reinsurance settlements
- Estimating credit risk of reinsurers
- Incorporating recovery rates in fulfilment cash flows
- Handling currency mismatches between ceded and direct contracts
- Identifying embedded derivatives in reinsurance agreements
- Separating investment components from risk transfer
- Assessing significant insurance risk in reinsurance
- Transferring contractual service margin to cedant
- Recognition of reinsurance profits over time
- Matching reinsurance releases with underlying claims
- Fair value overlays for capital market-linked treaties
- Drafting reinsurance reporting templates for consolidation
- Intercompany eliminations under IFRS 17
- Disclosure requirements for reinsurance recoverables
- Audit focus areas for reinsurance valuations
- Case study: Retrocession arrangements under IFRS 17
Module 7: Transition and Practical Implementation - Choosing between full retrospective and modified approaches
- Applying the practical expedient for contracts at initial application
- Carryforward of CSM from IFRS 4 deemed cost
- Measuring Fulfilment Cash Flows as of transition date
- Documentation requirements for transition elections
- Preparing reconciliations between IFRS 4 and IFRS 17
- Managing data gaps during transition
- Validating historical assumptions with actuarial models
- Integrating IFRS 17 into general ledger systems
- Aligning chart of accounts with new reporting structure
- Setting up intercompany chargeback mechanisms
- Training finance teams on new terminology and processes
- Developing IFRS 17 project plans with timelines
- Engaging auditors early in implementation
- Establishing governance committees and RACI matrices
- Managing stakeholder expectations across departments
- Creating user acceptance testing (UAT) protocols
- Building automated controls for data integrity
- Implementing version control for assumptions
- Running parallel reporting under IFRS 4 and IFRS 17
- Performing dry runs before go-live
- Developing post-implementation review checklists
Module 8: Disclosure Requirements and Financial Reporting - Understanding minimum disclosure objectives under IFRS 17
- Quantitative disclosures for insurance contract liabilities
- Reconciliations of beginning and ending balances
- Breakdown of changes in CSM for the period
- Separate presentation of RFR, risk adjustment, and CSM
- Tabular disclosures of cash flow projections
- Roll-forwards of Fulfilment Cash Flows
- Disclosure of significant assumptions used
- Presenting sensitivity analyses for key inputs
- Explaining choice of discount rates and risk margins
- Describing methodologies for mortality and lapse assumptions
- Reporting amortization of acquisition costs
- Presenting profit emergence patterns by cohort
- Segment reporting of insurance activities
- Geographic breakdowns of insurance exposure
- Line of business disclosures
- Interim reporting requirements under IFRS 17
- MD&A narrative enhancements for investors
- Comparative period disclosures
- First-time adopter disclosures
- Regulatory alignment with Solvency II and local GAAP
- Integrating IFRS 17 disclosures into annual reports
- Template preparation for audit-ready filings
Module 9: Actuarial Models and Data Foundations - Core data requirements for IFRS 17 modelling
- Granularity levels needed for accurate grouping
- Mapping product codes to IFRS 17 classifications
- Building policy-level datasets for measurement
- Data validation rules for actuarial inputs
- Integrating billing, claims, and underwriting systems
- Designing data warehouses for insurance finance
- Automating data feeds from core administration systems
- Selecting appropriate actuarial software platforms
- Validating model outputs with back-testing
- Version control for actuarial models
- Model governance and change management
- Defining roles for model validation teams
- External audit review of models and assumptions
- Documenting model assumptions for transparency
- Scenario testing and stress testing frameworks
- Generating deterministic and stochastic outcomes
- Producing model output reports for finance teams
- Ensuring computational accuracy and reproducibility
- Handling outliers and data anomalies
- Creating model inventory registers
- Complying with actuarial standards of practice
Module 10: Audit, Compliance, and Regulatory Considerations - Understanding auditor expectations under IFRS 17
- Key assertions tested during IFRS 17 audits
- Existence, completeness, accuracy, and cut-off testing
- Evaluating measurement model selection rationale
- Reviewing reasonableness of assumptions
- Assessing adequacy of disclosure packages
- Preparing for detailed walkthroughs and substantive testing
- Responding to auditor inquiries and requests
- Developing audit response teams and protocols
- Managing auditor queries on CSM calculations
- Complying with ISA 540 on accounting estimates
- Documentation standards for significant judgements
- Internal control frameworks for IFRS 17
- COSO alignment for finance processes
- Segregation of duties between actuarial and finance
- Preventing undue management influence on assumptions
- Complying with local regulatory reporting
- Coordinating with insurance supervisors and central banks
- Handling regulatory inquiries on capital and reserves
- Monitoring IFRS Interpretations Committee updates
- Tracking amendments and implementation guidance
- Participating in consultation papers and exposure drafts
- Maintaining regulatory correspondence files
Module 11: Advanced Topics and Edge Cases - Accounting for contracts with embedded derivatives
- Separating non-insurance components from insurance contracts
- Treatment of investment contracts with discretionary benefits
- Contracts without significant insurance risk
- Accounting for capital guarantee products
- Treatment of annuities with guaranteed minimum benefits
- Long term care insurance under IFRS 17
- Social insurance and government-mandated programs
- Contracts issued by non-insurance entities
- Employee benefit contracts and IFRS 17 boundaries
- Treatment of finite risk insurance arrangements
- Contract modifications and novations
- Handling renewals and extensions
- Early terminations and surrender penalties
- Treatment of policy loans and collateral
- Reinstatement of lapsed contracts
- Contracts in runoff or with no new business
- Orphaned blocks and legacy portfolio management
- Treatment of contracts in liquidation
- Accounting for insurance contracts in foreign currency
- Translation and remeasurement procedures
- Effective date provisions for delayed implementations
- Materiality thresholds for portfolio segmentation
Module 12: Certification and Career Advancement - Final assessment structure and requirements
- Preparing for mastery-level certification exam
- Reviewing common exam pitfalls and mistakes
- Time management strategies for certification test
- How to demonstrate applied knowledge in assessments
- Submitting project work for evaluation
- Receiving feedback and improvement guidance
- Progress tracking through the learning dashboard
- Earning your Certificate of Completion
- Verification process for credential authenticity
- Displaying your certification on LinkedIn and resumes
- Leveraging your credential in performance reviews
- Negotiating salary increases with new expertise
- Positioning yourself for promotions in finance teams
- Becoming the go-to IFRS 17 expert in your organization
- Networking with other certified professionals
- Contributing to IFRS 17 working groups
- Transitioning into specialized roles: actuarial finance, reporting, or audit
- Next steps: pursuing deeper specializations or certifications
- Staying current with IFRS 17 developments
- Setting personal development goals post-certification
- Accessing alumni resources and advanced content
- Participating in continuous learning opportunities
- Building thought leadership through writing and speaking
- Updating your professional profile with new competencies
- Using gamified progress tracking to stay motivated
- Celebrating milestones throughout your journey
- Lifetime access to career advancement resources
- Final checklist before certification submission
- How to achieve elite status in insurance accounting
- When to apply the General Measurement Model (GMM)
- Conditions for using the Premium Allocation Approach (PAA)
- Determining eligibility for the Variable Fee Approach (VFA)
- Step-by-step implementation of GMM for comprehensive contracts
- Calculating the Fulfilment Cash Flows (FCF) components
- Estimating future cash flows using probability-weighted methods
- Discounting future cash flows using current market yields
- Selecting appropriate discount rates for long-duration contracts
- Modelling risk adjustment for non-financial risk
- Techniques for determining the Confidence Level used in risk adjustment
- Incorporating expected lapses and surrenders in cash flow projections
- Handling dynamic lapses based on economic conditions
- Adjusting for estimated expenses, including acquisition and maintenance
- Inflation indexing of future cash flows
- Integrating mortality, morbidity, and persistency assumptions
- Modelling commissions and agent bonuses
- Accounting for reinsurance contracts held
- Assessing coverage periods and remaining coverage units
- Grouping contracts for measurement: general principles
- Identifying meaningful differences in risk and cash flow patterns
- Merging and splitting groups during the contract lifecycle
Module 3: Contractual Service Margin (CSM) Framework - Defining the Contractual Service Margin (CSF) components
- Initial recognition of CSM at contract inception
- Why CSM represents unearned profit
- Amortization of CSM over the coverage period
- Linking CSM release to coverage units provided
- Calculating coverage units: time-based vs transaction-based methods
- Adjustment of CSM for changes in fulfilment cash flows
- Impact of assumptions changes on CSM recalibration
- Distinguishing between favourable and adverse variance
- Allocating changes in CSM to profit or loss
- Handling currency translation effects on CSM
- CSM treatment for contracts with participating features
- Interaction between CSM and dividend declarations
- CSM adjustments for revised estimates and actual experience
- Accounting for onerous contracts and impairment triggers
- Recognizing loss components separately from CSM
- Recovery of previously recognized losses
- CSM rollforward reporting templates
- Documenting CSM assumptions and audit trails
- Practical case study: CSM amortization for a multi-year life policy
Module 4: Variable Fee Approach (VFA) Deep Dive - Identifying contracts that qualify for VFA
- Contracts with direct participation features
- Contracts where fees vary with underlying items
- Assessing materiality of fee variability
- Measuring the liability for remaining coverage under VFA
- Relationship between variable fees and investment components
- Allocating variable fees to service periods
- Impact of fund performance on profit recognition
- Modelling bonus allocation mechanisms
- Accounting for management fees linked to assets under management
- Treatment of policyholder dividends and profit sharing
- Disclosure requirements specific to VFA contracts
- Interaction between VFA and general model fallbacks
- Transition rules for contracts moving to VFA
- Actuarial considerations for variable fee projections
- Integrating market-linked assumptions into cash flows
- Case study: Applying VFA to unit-linked insurance products
- Reporting VFA liabilities across subsidiaries
- Audit testing of fee variability assertions
- Common implementation pitfalls in VFA application
Module 5: Premium Allocation Approach (PAA) Applications - Identifying short-duration contracts eligible for PAA
- Contracts with coverage periods of one year or less
- Contracts where PAA produces materially similar results to GMM
- Measuring liabilities using unearned premium plus loss component
- Recognizing premiums on a straight-line basis over coverage period
- Deferring acquisition costs under PAA
- Amortizing costs in proportion to premium recognition
- Assessing loss components at each reporting date
- Recovering onerous contract losses in future periods
- Transitioning from GMM to PAA when conditions change
- Grouping PAA contracts for efficient reporting
- Disclosure requirements for PAA policies
- Comparing financial outcomes under PAA vs GMM
- Practical example: PAA for property and casualty insurance
- Handling mid-term cancellations under PAA
- Adjusting for claims incurred but not reported (IBNR)
- Integrating claims development patterns
- Mapping PAA to existing GAAP reserves
- Auditor expectations for PAA justification
- Documentation standards for PAA eligibility
Module 6: Reinsurance Contracts Held and Ceded - Distinguishing between reinsurance contracts held and ceded
- Applying IFRS 17 to reinsurance assets
- Measuring reinsurance CSM separately from direct insurance
- Grouping reinsurance contracts by underlying risk
- Discounting reinsurance recovery cash flows
- Modelling timing lags in reinsurance settlements
- Estimating credit risk of reinsurers
- Incorporating recovery rates in fulfilment cash flows
- Handling currency mismatches between ceded and direct contracts
- Identifying embedded derivatives in reinsurance agreements
- Separating investment components from risk transfer
- Assessing significant insurance risk in reinsurance
- Transferring contractual service margin to cedant
- Recognition of reinsurance profits over time
- Matching reinsurance releases with underlying claims
- Fair value overlays for capital market-linked treaties
- Drafting reinsurance reporting templates for consolidation
- Intercompany eliminations under IFRS 17
- Disclosure requirements for reinsurance recoverables
- Audit focus areas for reinsurance valuations
- Case study: Retrocession arrangements under IFRS 17
Module 7: Transition and Practical Implementation - Choosing between full retrospective and modified approaches
- Applying the practical expedient for contracts at initial application
- Carryforward of CSM from IFRS 4 deemed cost
- Measuring Fulfilment Cash Flows as of transition date
- Documentation requirements for transition elections
- Preparing reconciliations between IFRS 4 and IFRS 17
- Managing data gaps during transition
- Validating historical assumptions with actuarial models
- Integrating IFRS 17 into general ledger systems
- Aligning chart of accounts with new reporting structure
- Setting up intercompany chargeback mechanisms
- Training finance teams on new terminology and processes
- Developing IFRS 17 project plans with timelines
- Engaging auditors early in implementation
- Establishing governance committees and RACI matrices
- Managing stakeholder expectations across departments
- Creating user acceptance testing (UAT) protocols
- Building automated controls for data integrity
- Implementing version control for assumptions
- Running parallel reporting under IFRS 4 and IFRS 17
- Performing dry runs before go-live
- Developing post-implementation review checklists
Module 8: Disclosure Requirements and Financial Reporting - Understanding minimum disclosure objectives under IFRS 17
- Quantitative disclosures for insurance contract liabilities
- Reconciliations of beginning and ending balances
- Breakdown of changes in CSM for the period
- Separate presentation of RFR, risk adjustment, and CSM
- Tabular disclosures of cash flow projections
- Roll-forwards of Fulfilment Cash Flows
- Disclosure of significant assumptions used
- Presenting sensitivity analyses for key inputs
- Explaining choice of discount rates and risk margins
- Describing methodologies for mortality and lapse assumptions
- Reporting amortization of acquisition costs
- Presenting profit emergence patterns by cohort
- Segment reporting of insurance activities
- Geographic breakdowns of insurance exposure
- Line of business disclosures
- Interim reporting requirements under IFRS 17
- MD&A narrative enhancements for investors
- Comparative period disclosures
- First-time adopter disclosures
- Regulatory alignment with Solvency II and local GAAP
- Integrating IFRS 17 disclosures into annual reports
- Template preparation for audit-ready filings
Module 9: Actuarial Models and Data Foundations - Core data requirements for IFRS 17 modelling
- Granularity levels needed for accurate grouping
- Mapping product codes to IFRS 17 classifications
- Building policy-level datasets for measurement
- Data validation rules for actuarial inputs
- Integrating billing, claims, and underwriting systems
- Designing data warehouses for insurance finance
- Automating data feeds from core administration systems
- Selecting appropriate actuarial software platforms
- Validating model outputs with back-testing
- Version control for actuarial models
- Model governance and change management
- Defining roles for model validation teams
- External audit review of models and assumptions
- Documenting model assumptions for transparency
- Scenario testing and stress testing frameworks
- Generating deterministic and stochastic outcomes
- Producing model output reports for finance teams
- Ensuring computational accuracy and reproducibility
- Handling outliers and data anomalies
- Creating model inventory registers
- Complying with actuarial standards of practice
Module 10: Audit, Compliance, and Regulatory Considerations - Understanding auditor expectations under IFRS 17
- Key assertions tested during IFRS 17 audits
- Existence, completeness, accuracy, and cut-off testing
- Evaluating measurement model selection rationale
- Reviewing reasonableness of assumptions
- Assessing adequacy of disclosure packages
- Preparing for detailed walkthroughs and substantive testing
- Responding to auditor inquiries and requests
- Developing audit response teams and protocols
- Managing auditor queries on CSM calculations
- Complying with ISA 540 on accounting estimates
- Documentation standards for significant judgements
- Internal control frameworks for IFRS 17
- COSO alignment for finance processes
- Segregation of duties between actuarial and finance
- Preventing undue management influence on assumptions
- Complying with local regulatory reporting
- Coordinating with insurance supervisors and central banks
- Handling regulatory inquiries on capital and reserves
- Monitoring IFRS Interpretations Committee updates
- Tracking amendments and implementation guidance
- Participating in consultation papers and exposure drafts
- Maintaining regulatory correspondence files
Module 11: Advanced Topics and Edge Cases - Accounting for contracts with embedded derivatives
- Separating non-insurance components from insurance contracts
- Treatment of investment contracts with discretionary benefits
- Contracts without significant insurance risk
- Accounting for capital guarantee products
- Treatment of annuities with guaranteed minimum benefits
- Long term care insurance under IFRS 17
- Social insurance and government-mandated programs
- Contracts issued by non-insurance entities
- Employee benefit contracts and IFRS 17 boundaries
- Treatment of finite risk insurance arrangements
- Contract modifications and novations
- Handling renewals and extensions
- Early terminations and surrender penalties
- Treatment of policy loans and collateral
- Reinstatement of lapsed contracts
- Contracts in runoff or with no new business
- Orphaned blocks and legacy portfolio management
- Treatment of contracts in liquidation
- Accounting for insurance contracts in foreign currency
- Translation and remeasurement procedures
- Effective date provisions for delayed implementations
- Materiality thresholds for portfolio segmentation
Module 12: Certification and Career Advancement - Final assessment structure and requirements
- Preparing for mastery-level certification exam
- Reviewing common exam pitfalls and mistakes
- Time management strategies for certification test
- How to demonstrate applied knowledge in assessments
- Submitting project work for evaluation
- Receiving feedback and improvement guidance
- Progress tracking through the learning dashboard
- Earning your Certificate of Completion
- Verification process for credential authenticity
- Displaying your certification on LinkedIn and resumes
- Leveraging your credential in performance reviews
- Negotiating salary increases with new expertise
- Positioning yourself for promotions in finance teams
- Becoming the go-to IFRS 17 expert in your organization
- Networking with other certified professionals
- Contributing to IFRS 17 working groups
- Transitioning into specialized roles: actuarial finance, reporting, or audit
- Next steps: pursuing deeper specializations or certifications
- Staying current with IFRS 17 developments
- Setting personal development goals post-certification
- Accessing alumni resources and advanced content
- Participating in continuous learning opportunities
- Building thought leadership through writing and speaking
- Updating your professional profile with new competencies
- Using gamified progress tracking to stay motivated
- Celebrating milestones throughout your journey
- Lifetime access to career advancement resources
- Final checklist before certification submission
- How to achieve elite status in insurance accounting
- Identifying contracts that qualify for VFA
- Contracts with direct participation features
- Contracts where fees vary with underlying items
- Assessing materiality of fee variability
- Measuring the liability for remaining coverage under VFA
- Relationship between variable fees and investment components
- Allocating variable fees to service periods
- Impact of fund performance on profit recognition
- Modelling bonus allocation mechanisms
- Accounting for management fees linked to assets under management
- Treatment of policyholder dividends and profit sharing
- Disclosure requirements specific to VFA contracts
- Interaction between VFA and general model fallbacks
- Transition rules for contracts moving to VFA
- Actuarial considerations for variable fee projections
- Integrating market-linked assumptions into cash flows
- Case study: Applying VFA to unit-linked insurance products
- Reporting VFA liabilities across subsidiaries
- Audit testing of fee variability assertions
- Common implementation pitfalls in VFA application
Module 5: Premium Allocation Approach (PAA) Applications - Identifying short-duration contracts eligible for PAA
- Contracts with coverage periods of one year or less
- Contracts where PAA produces materially similar results to GMM
- Measuring liabilities using unearned premium plus loss component
- Recognizing premiums on a straight-line basis over coverage period
- Deferring acquisition costs under PAA
- Amortizing costs in proportion to premium recognition
- Assessing loss components at each reporting date
- Recovering onerous contract losses in future periods
- Transitioning from GMM to PAA when conditions change
- Grouping PAA contracts for efficient reporting
- Disclosure requirements for PAA policies
- Comparing financial outcomes under PAA vs GMM
- Practical example: PAA for property and casualty insurance
- Handling mid-term cancellations under PAA
- Adjusting for claims incurred but not reported (IBNR)
- Integrating claims development patterns
- Mapping PAA to existing GAAP reserves
- Auditor expectations for PAA justification
- Documentation standards for PAA eligibility
Module 6: Reinsurance Contracts Held and Ceded - Distinguishing between reinsurance contracts held and ceded
- Applying IFRS 17 to reinsurance assets
- Measuring reinsurance CSM separately from direct insurance
- Grouping reinsurance contracts by underlying risk
- Discounting reinsurance recovery cash flows
- Modelling timing lags in reinsurance settlements
- Estimating credit risk of reinsurers
- Incorporating recovery rates in fulfilment cash flows
- Handling currency mismatches between ceded and direct contracts
- Identifying embedded derivatives in reinsurance agreements
- Separating investment components from risk transfer
- Assessing significant insurance risk in reinsurance
- Transferring contractual service margin to cedant
- Recognition of reinsurance profits over time
- Matching reinsurance releases with underlying claims
- Fair value overlays for capital market-linked treaties
- Drafting reinsurance reporting templates for consolidation
- Intercompany eliminations under IFRS 17
- Disclosure requirements for reinsurance recoverables
- Audit focus areas for reinsurance valuations
- Case study: Retrocession arrangements under IFRS 17
Module 7: Transition and Practical Implementation - Choosing between full retrospective and modified approaches
- Applying the practical expedient for contracts at initial application
- Carryforward of CSM from IFRS 4 deemed cost
- Measuring Fulfilment Cash Flows as of transition date
- Documentation requirements for transition elections
- Preparing reconciliations between IFRS 4 and IFRS 17
- Managing data gaps during transition
- Validating historical assumptions with actuarial models
- Integrating IFRS 17 into general ledger systems
- Aligning chart of accounts with new reporting structure
- Setting up intercompany chargeback mechanisms
- Training finance teams on new terminology and processes
- Developing IFRS 17 project plans with timelines
- Engaging auditors early in implementation
- Establishing governance committees and RACI matrices
- Managing stakeholder expectations across departments
- Creating user acceptance testing (UAT) protocols
- Building automated controls for data integrity
- Implementing version control for assumptions
- Running parallel reporting under IFRS 4 and IFRS 17
- Performing dry runs before go-live
- Developing post-implementation review checklists
Module 8: Disclosure Requirements and Financial Reporting - Understanding minimum disclosure objectives under IFRS 17
- Quantitative disclosures for insurance contract liabilities
- Reconciliations of beginning and ending balances
- Breakdown of changes in CSM for the period
- Separate presentation of RFR, risk adjustment, and CSM
- Tabular disclosures of cash flow projections
- Roll-forwards of Fulfilment Cash Flows
- Disclosure of significant assumptions used
- Presenting sensitivity analyses for key inputs
- Explaining choice of discount rates and risk margins
- Describing methodologies for mortality and lapse assumptions
- Reporting amortization of acquisition costs
- Presenting profit emergence patterns by cohort
- Segment reporting of insurance activities
- Geographic breakdowns of insurance exposure
- Line of business disclosures
- Interim reporting requirements under IFRS 17
- MD&A narrative enhancements for investors
- Comparative period disclosures
- First-time adopter disclosures
- Regulatory alignment with Solvency II and local GAAP
- Integrating IFRS 17 disclosures into annual reports
- Template preparation for audit-ready filings
Module 9: Actuarial Models and Data Foundations - Core data requirements for IFRS 17 modelling
- Granularity levels needed for accurate grouping
- Mapping product codes to IFRS 17 classifications
- Building policy-level datasets for measurement
- Data validation rules for actuarial inputs
- Integrating billing, claims, and underwriting systems
- Designing data warehouses for insurance finance
- Automating data feeds from core administration systems
- Selecting appropriate actuarial software platforms
- Validating model outputs with back-testing
- Version control for actuarial models
- Model governance and change management
- Defining roles for model validation teams
- External audit review of models and assumptions
- Documenting model assumptions for transparency
- Scenario testing and stress testing frameworks
- Generating deterministic and stochastic outcomes
- Producing model output reports for finance teams
- Ensuring computational accuracy and reproducibility
- Handling outliers and data anomalies
- Creating model inventory registers
- Complying with actuarial standards of practice
Module 10: Audit, Compliance, and Regulatory Considerations - Understanding auditor expectations under IFRS 17
- Key assertions tested during IFRS 17 audits
- Existence, completeness, accuracy, and cut-off testing
- Evaluating measurement model selection rationale
- Reviewing reasonableness of assumptions
- Assessing adequacy of disclosure packages
- Preparing for detailed walkthroughs and substantive testing
- Responding to auditor inquiries and requests
- Developing audit response teams and protocols
- Managing auditor queries on CSM calculations
- Complying with ISA 540 on accounting estimates
- Documentation standards for significant judgements
- Internal control frameworks for IFRS 17
- COSO alignment for finance processes
- Segregation of duties between actuarial and finance
- Preventing undue management influence on assumptions
- Complying with local regulatory reporting
- Coordinating with insurance supervisors and central banks
- Handling regulatory inquiries on capital and reserves
- Monitoring IFRS Interpretations Committee updates
- Tracking amendments and implementation guidance
- Participating in consultation papers and exposure drafts
- Maintaining regulatory correspondence files
Module 11: Advanced Topics and Edge Cases - Accounting for contracts with embedded derivatives
- Separating non-insurance components from insurance contracts
- Treatment of investment contracts with discretionary benefits
- Contracts without significant insurance risk
- Accounting for capital guarantee products
- Treatment of annuities with guaranteed minimum benefits
- Long term care insurance under IFRS 17
- Social insurance and government-mandated programs
- Contracts issued by non-insurance entities
- Employee benefit contracts and IFRS 17 boundaries
- Treatment of finite risk insurance arrangements
- Contract modifications and novations
- Handling renewals and extensions
- Early terminations and surrender penalties
- Treatment of policy loans and collateral
- Reinstatement of lapsed contracts
- Contracts in runoff or with no new business
- Orphaned blocks and legacy portfolio management
- Treatment of contracts in liquidation
- Accounting for insurance contracts in foreign currency
- Translation and remeasurement procedures
- Effective date provisions for delayed implementations
- Materiality thresholds for portfolio segmentation
Module 12: Certification and Career Advancement - Final assessment structure and requirements
- Preparing for mastery-level certification exam
- Reviewing common exam pitfalls and mistakes
- Time management strategies for certification test
- How to demonstrate applied knowledge in assessments
- Submitting project work for evaluation
- Receiving feedback and improvement guidance
- Progress tracking through the learning dashboard
- Earning your Certificate of Completion
- Verification process for credential authenticity
- Displaying your certification on LinkedIn and resumes
- Leveraging your credential in performance reviews
- Negotiating salary increases with new expertise
- Positioning yourself for promotions in finance teams
- Becoming the go-to IFRS 17 expert in your organization
- Networking with other certified professionals
- Contributing to IFRS 17 working groups
- Transitioning into specialized roles: actuarial finance, reporting, or audit
- Next steps: pursuing deeper specializations or certifications
- Staying current with IFRS 17 developments
- Setting personal development goals post-certification
- Accessing alumni resources and advanced content
- Participating in continuous learning opportunities
- Building thought leadership through writing and speaking
- Updating your professional profile with new competencies
- Using gamified progress tracking to stay motivated
- Celebrating milestones throughout your journey
- Lifetime access to career advancement resources
- Final checklist before certification submission
- How to achieve elite status in insurance accounting
- Distinguishing between reinsurance contracts held and ceded
- Applying IFRS 17 to reinsurance assets
- Measuring reinsurance CSM separately from direct insurance
- Grouping reinsurance contracts by underlying risk
- Discounting reinsurance recovery cash flows
- Modelling timing lags in reinsurance settlements
- Estimating credit risk of reinsurers
- Incorporating recovery rates in fulfilment cash flows
- Handling currency mismatches between ceded and direct contracts
- Identifying embedded derivatives in reinsurance agreements
- Separating investment components from risk transfer
- Assessing significant insurance risk in reinsurance
- Transferring contractual service margin to cedant
- Recognition of reinsurance profits over time
- Matching reinsurance releases with underlying claims
- Fair value overlays for capital market-linked treaties
- Drafting reinsurance reporting templates for consolidation
- Intercompany eliminations under IFRS 17
- Disclosure requirements for reinsurance recoverables
- Audit focus areas for reinsurance valuations
- Case study: Retrocession arrangements under IFRS 17
Module 7: Transition and Practical Implementation - Choosing between full retrospective and modified approaches
- Applying the practical expedient for contracts at initial application
- Carryforward of CSM from IFRS 4 deemed cost
- Measuring Fulfilment Cash Flows as of transition date
- Documentation requirements for transition elections
- Preparing reconciliations between IFRS 4 and IFRS 17
- Managing data gaps during transition
- Validating historical assumptions with actuarial models
- Integrating IFRS 17 into general ledger systems
- Aligning chart of accounts with new reporting structure
- Setting up intercompany chargeback mechanisms
- Training finance teams on new terminology and processes
- Developing IFRS 17 project plans with timelines
- Engaging auditors early in implementation
- Establishing governance committees and RACI matrices
- Managing stakeholder expectations across departments
- Creating user acceptance testing (UAT) protocols
- Building automated controls for data integrity
- Implementing version control for assumptions
- Running parallel reporting under IFRS 4 and IFRS 17
- Performing dry runs before go-live
- Developing post-implementation review checklists
Module 8: Disclosure Requirements and Financial Reporting - Understanding minimum disclosure objectives under IFRS 17
- Quantitative disclosures for insurance contract liabilities
- Reconciliations of beginning and ending balances
- Breakdown of changes in CSM for the period
- Separate presentation of RFR, risk adjustment, and CSM
- Tabular disclosures of cash flow projections
- Roll-forwards of Fulfilment Cash Flows
- Disclosure of significant assumptions used
- Presenting sensitivity analyses for key inputs
- Explaining choice of discount rates and risk margins
- Describing methodologies for mortality and lapse assumptions
- Reporting amortization of acquisition costs
- Presenting profit emergence patterns by cohort
- Segment reporting of insurance activities
- Geographic breakdowns of insurance exposure
- Line of business disclosures
- Interim reporting requirements under IFRS 17
- MD&A narrative enhancements for investors
- Comparative period disclosures
- First-time adopter disclosures
- Regulatory alignment with Solvency II and local GAAP
- Integrating IFRS 17 disclosures into annual reports
- Template preparation for audit-ready filings
Module 9: Actuarial Models and Data Foundations - Core data requirements for IFRS 17 modelling
- Granularity levels needed for accurate grouping
- Mapping product codes to IFRS 17 classifications
- Building policy-level datasets for measurement
- Data validation rules for actuarial inputs
- Integrating billing, claims, and underwriting systems
- Designing data warehouses for insurance finance
- Automating data feeds from core administration systems
- Selecting appropriate actuarial software platforms
- Validating model outputs with back-testing
- Version control for actuarial models
- Model governance and change management
- Defining roles for model validation teams
- External audit review of models and assumptions
- Documenting model assumptions for transparency
- Scenario testing and stress testing frameworks
- Generating deterministic and stochastic outcomes
- Producing model output reports for finance teams
- Ensuring computational accuracy and reproducibility
- Handling outliers and data anomalies
- Creating model inventory registers
- Complying with actuarial standards of practice
Module 10: Audit, Compliance, and Regulatory Considerations - Understanding auditor expectations under IFRS 17
- Key assertions tested during IFRS 17 audits
- Existence, completeness, accuracy, and cut-off testing
- Evaluating measurement model selection rationale
- Reviewing reasonableness of assumptions
- Assessing adequacy of disclosure packages
- Preparing for detailed walkthroughs and substantive testing
- Responding to auditor inquiries and requests
- Developing audit response teams and protocols
- Managing auditor queries on CSM calculations
- Complying with ISA 540 on accounting estimates
- Documentation standards for significant judgements
- Internal control frameworks for IFRS 17
- COSO alignment for finance processes
- Segregation of duties between actuarial and finance
- Preventing undue management influence on assumptions
- Complying with local regulatory reporting
- Coordinating with insurance supervisors and central banks
- Handling regulatory inquiries on capital and reserves
- Monitoring IFRS Interpretations Committee updates
- Tracking amendments and implementation guidance
- Participating in consultation papers and exposure drafts
- Maintaining regulatory correspondence files
Module 11: Advanced Topics and Edge Cases - Accounting for contracts with embedded derivatives
- Separating non-insurance components from insurance contracts
- Treatment of investment contracts with discretionary benefits
- Contracts without significant insurance risk
- Accounting for capital guarantee products
- Treatment of annuities with guaranteed minimum benefits
- Long term care insurance under IFRS 17
- Social insurance and government-mandated programs
- Contracts issued by non-insurance entities
- Employee benefit contracts and IFRS 17 boundaries
- Treatment of finite risk insurance arrangements
- Contract modifications and novations
- Handling renewals and extensions
- Early terminations and surrender penalties
- Treatment of policy loans and collateral
- Reinstatement of lapsed contracts
- Contracts in runoff or with no new business
- Orphaned blocks and legacy portfolio management
- Treatment of contracts in liquidation
- Accounting for insurance contracts in foreign currency
- Translation and remeasurement procedures
- Effective date provisions for delayed implementations
- Materiality thresholds for portfolio segmentation
Module 12: Certification and Career Advancement - Final assessment structure and requirements
- Preparing for mastery-level certification exam
- Reviewing common exam pitfalls and mistakes
- Time management strategies for certification test
- How to demonstrate applied knowledge in assessments
- Submitting project work for evaluation
- Receiving feedback and improvement guidance
- Progress tracking through the learning dashboard
- Earning your Certificate of Completion
- Verification process for credential authenticity
- Displaying your certification on LinkedIn and resumes
- Leveraging your credential in performance reviews
- Negotiating salary increases with new expertise
- Positioning yourself for promotions in finance teams
- Becoming the go-to IFRS 17 expert in your organization
- Networking with other certified professionals
- Contributing to IFRS 17 working groups
- Transitioning into specialized roles: actuarial finance, reporting, or audit
- Next steps: pursuing deeper specializations or certifications
- Staying current with IFRS 17 developments
- Setting personal development goals post-certification
- Accessing alumni resources and advanced content
- Participating in continuous learning opportunities
- Building thought leadership through writing and speaking
- Updating your professional profile with new competencies
- Using gamified progress tracking to stay motivated
- Celebrating milestones throughout your journey
- Lifetime access to career advancement resources
- Final checklist before certification submission
- How to achieve elite status in insurance accounting
- Understanding minimum disclosure objectives under IFRS 17
- Quantitative disclosures for insurance contract liabilities
- Reconciliations of beginning and ending balances
- Breakdown of changes in CSM for the period
- Separate presentation of RFR, risk adjustment, and CSM
- Tabular disclosures of cash flow projections
- Roll-forwards of Fulfilment Cash Flows
- Disclosure of significant assumptions used
- Presenting sensitivity analyses for key inputs
- Explaining choice of discount rates and risk margins
- Describing methodologies for mortality and lapse assumptions
- Reporting amortization of acquisition costs
- Presenting profit emergence patterns by cohort
- Segment reporting of insurance activities
- Geographic breakdowns of insurance exposure
- Line of business disclosures
- Interim reporting requirements under IFRS 17
- MD&A narrative enhancements for investors
- Comparative period disclosures
- First-time adopter disclosures
- Regulatory alignment with Solvency II and local GAAP
- Integrating IFRS 17 disclosures into annual reports
- Template preparation for audit-ready filings
Module 9: Actuarial Models and Data Foundations - Core data requirements for IFRS 17 modelling
- Granularity levels needed for accurate grouping
- Mapping product codes to IFRS 17 classifications
- Building policy-level datasets for measurement
- Data validation rules for actuarial inputs
- Integrating billing, claims, and underwriting systems
- Designing data warehouses for insurance finance
- Automating data feeds from core administration systems
- Selecting appropriate actuarial software platforms
- Validating model outputs with back-testing
- Version control for actuarial models
- Model governance and change management
- Defining roles for model validation teams
- External audit review of models and assumptions
- Documenting model assumptions for transparency
- Scenario testing and stress testing frameworks
- Generating deterministic and stochastic outcomes
- Producing model output reports for finance teams
- Ensuring computational accuracy and reproducibility
- Handling outliers and data anomalies
- Creating model inventory registers
- Complying with actuarial standards of practice
Module 10: Audit, Compliance, and Regulatory Considerations - Understanding auditor expectations under IFRS 17
- Key assertions tested during IFRS 17 audits
- Existence, completeness, accuracy, and cut-off testing
- Evaluating measurement model selection rationale
- Reviewing reasonableness of assumptions
- Assessing adequacy of disclosure packages
- Preparing for detailed walkthroughs and substantive testing
- Responding to auditor inquiries and requests
- Developing audit response teams and protocols
- Managing auditor queries on CSM calculations
- Complying with ISA 540 on accounting estimates
- Documentation standards for significant judgements
- Internal control frameworks for IFRS 17
- COSO alignment for finance processes
- Segregation of duties between actuarial and finance
- Preventing undue management influence on assumptions
- Complying with local regulatory reporting
- Coordinating with insurance supervisors and central banks
- Handling regulatory inquiries on capital and reserves
- Monitoring IFRS Interpretations Committee updates
- Tracking amendments and implementation guidance
- Participating in consultation papers and exposure drafts
- Maintaining regulatory correspondence files
Module 11: Advanced Topics and Edge Cases - Accounting for contracts with embedded derivatives
- Separating non-insurance components from insurance contracts
- Treatment of investment contracts with discretionary benefits
- Contracts without significant insurance risk
- Accounting for capital guarantee products
- Treatment of annuities with guaranteed minimum benefits
- Long term care insurance under IFRS 17
- Social insurance and government-mandated programs
- Contracts issued by non-insurance entities
- Employee benefit contracts and IFRS 17 boundaries
- Treatment of finite risk insurance arrangements
- Contract modifications and novations
- Handling renewals and extensions
- Early terminations and surrender penalties
- Treatment of policy loans and collateral
- Reinstatement of lapsed contracts
- Contracts in runoff or with no new business
- Orphaned blocks and legacy portfolio management
- Treatment of contracts in liquidation
- Accounting for insurance contracts in foreign currency
- Translation and remeasurement procedures
- Effective date provisions for delayed implementations
- Materiality thresholds for portfolio segmentation
Module 12: Certification and Career Advancement - Final assessment structure and requirements
- Preparing for mastery-level certification exam
- Reviewing common exam pitfalls and mistakes
- Time management strategies for certification test
- How to demonstrate applied knowledge in assessments
- Submitting project work for evaluation
- Receiving feedback and improvement guidance
- Progress tracking through the learning dashboard
- Earning your Certificate of Completion
- Verification process for credential authenticity
- Displaying your certification on LinkedIn and resumes
- Leveraging your credential in performance reviews
- Negotiating salary increases with new expertise
- Positioning yourself for promotions in finance teams
- Becoming the go-to IFRS 17 expert in your organization
- Networking with other certified professionals
- Contributing to IFRS 17 working groups
- Transitioning into specialized roles: actuarial finance, reporting, or audit
- Next steps: pursuing deeper specializations or certifications
- Staying current with IFRS 17 developments
- Setting personal development goals post-certification
- Accessing alumni resources and advanced content
- Participating in continuous learning opportunities
- Building thought leadership through writing and speaking
- Updating your professional profile with new competencies
- Using gamified progress tracking to stay motivated
- Celebrating milestones throughout your journey
- Lifetime access to career advancement resources
- Final checklist before certification submission
- How to achieve elite status in insurance accounting
- Understanding auditor expectations under IFRS 17
- Key assertions tested during IFRS 17 audits
- Existence, completeness, accuracy, and cut-off testing
- Evaluating measurement model selection rationale
- Reviewing reasonableness of assumptions
- Assessing adequacy of disclosure packages
- Preparing for detailed walkthroughs and substantive testing
- Responding to auditor inquiries and requests
- Developing audit response teams and protocols
- Managing auditor queries on CSM calculations
- Complying with ISA 540 on accounting estimates
- Documentation standards for significant judgements
- Internal control frameworks for IFRS 17
- COSO alignment for finance processes
- Segregation of duties between actuarial and finance
- Preventing undue management influence on assumptions
- Complying with local regulatory reporting
- Coordinating with insurance supervisors and central banks
- Handling regulatory inquiries on capital and reserves
- Monitoring IFRS Interpretations Committee updates
- Tracking amendments and implementation guidance
- Participating in consultation papers and exposure drafts
- Maintaining regulatory correspondence files
Module 11: Advanced Topics and Edge Cases - Accounting for contracts with embedded derivatives
- Separating non-insurance components from insurance contracts
- Treatment of investment contracts with discretionary benefits
- Contracts without significant insurance risk
- Accounting for capital guarantee products
- Treatment of annuities with guaranteed minimum benefits
- Long term care insurance under IFRS 17
- Social insurance and government-mandated programs
- Contracts issued by non-insurance entities
- Employee benefit contracts and IFRS 17 boundaries
- Treatment of finite risk insurance arrangements
- Contract modifications and novations
- Handling renewals and extensions
- Early terminations and surrender penalties
- Treatment of policy loans and collateral
- Reinstatement of lapsed contracts
- Contracts in runoff or with no new business
- Orphaned blocks and legacy portfolio management
- Treatment of contracts in liquidation
- Accounting for insurance contracts in foreign currency
- Translation and remeasurement procedures
- Effective date provisions for delayed implementations
- Materiality thresholds for portfolio segmentation
Module 12: Certification and Career Advancement - Final assessment structure and requirements
- Preparing for mastery-level certification exam
- Reviewing common exam pitfalls and mistakes
- Time management strategies for certification test
- How to demonstrate applied knowledge in assessments
- Submitting project work for evaluation
- Receiving feedback and improvement guidance
- Progress tracking through the learning dashboard
- Earning your Certificate of Completion
- Verification process for credential authenticity
- Displaying your certification on LinkedIn and resumes
- Leveraging your credential in performance reviews
- Negotiating salary increases with new expertise
- Positioning yourself for promotions in finance teams
- Becoming the go-to IFRS 17 expert in your organization
- Networking with other certified professionals
- Contributing to IFRS 17 working groups
- Transitioning into specialized roles: actuarial finance, reporting, or audit
- Next steps: pursuing deeper specializations or certifications
- Staying current with IFRS 17 developments
- Setting personal development goals post-certification
- Accessing alumni resources and advanced content
- Participating in continuous learning opportunities
- Building thought leadership through writing and speaking
- Updating your professional profile with new competencies
- Using gamified progress tracking to stay motivated
- Celebrating milestones throughout your journey
- Lifetime access to career advancement resources
- Final checklist before certification submission
- How to achieve elite status in insurance accounting
- Final assessment structure and requirements
- Preparing for mastery-level certification exam
- Reviewing common exam pitfalls and mistakes
- Time management strategies for certification test
- How to demonstrate applied knowledge in assessments
- Submitting project work for evaluation
- Receiving feedback and improvement guidance
- Progress tracking through the learning dashboard
- Earning your Certificate of Completion
- Verification process for credential authenticity
- Displaying your certification on LinkedIn and resumes
- Leveraging your credential in performance reviews
- Negotiating salary increases with new expertise
- Positioning yourself for promotions in finance teams
- Becoming the go-to IFRS 17 expert in your organization
- Networking with other certified professionals
- Contributing to IFRS 17 working groups
- Transitioning into specialized roles: actuarial finance, reporting, or audit
- Next steps: pursuing deeper specializations or certifications
- Staying current with IFRS 17 developments
- Setting personal development goals post-certification
- Accessing alumni resources and advanced content
- Participating in continuous learning opportunities
- Building thought leadership through writing and speaking
- Updating your professional profile with new competencies
- Using gamified progress tracking to stay motivated
- Celebrating milestones throughout your journey
- Lifetime access to career advancement resources
- Final checklist before certification submission
- How to achieve elite status in insurance accounting