If you work for an insurance company and you report under IFRS GAAP, you no doubt have seen the decision by the International Accounting Standards Board (IASB) to delay the implementation of IFRS 17 for one year to 1 January 2022.
The new lease accounting standards will make financial statements more transparent and comparable by requiring organizations to report operating lease liabilities on the balance sheet. But will the lease accounting standards have other...
Two things to consider before adopting the Premium Allocation Approach under IFRS 17
You may see SOCs labelled by companies as, "SOC certification" and "SOC certificate", and we wanted to explain just why that term is incorrect. SOC (Service Organization Control) reports are not a certificate.
We recently released our Global IFRS 17 Readiness Assessment (GIRA) Q3 survey results which revisits our base of insurers to see how IFRS 17 projects have progressed since the first report was released in January of 2018.
19th October 2018
Accounting Change & Compliance |
IFRS 15 & ASC 606 |
revenue recognition |
Security
With recent hacking scandals and general concern around security of information, we discuss SOC reports at a basic level. For those who need a broad understanding of the importance of SOC reports to their business, service providers, and...
How do you know what security controls and compliance features are essential, important, or perhaps unnecessary, when it comes to choosing your revenue recognition software service providers? SOC 1, SOC 2, SSAE 16, Type 1, Type 2, and soon SSAE...
“The only thing that is constant is change.”
- Heraclitus of Ephesus
Within the ever-changing world of business, regulatory change stands out as particularly daunting to even the most experienced CFO. Time-bound, complex and often impacting...
The new lease accounting standards, IFRS 16/ASC 842, will bring trillions of dollars of lease liabilities onto company balance sheets and trigger significant accounting changes when they take effect in December 2018/January 2019. This is the...
The new lease accounting standards, IFRS 16 / ASC 842, will bring trillions of dollars of lease liabilities onto company balance sheets and trigger significant accounting changes when they take effect in December 2018 / January 2019. This is the...
