The IFRS 17 WG will update this page with items that should offer further guidance on IFRS 17:
| Title | Description |
| Actuarial Financial Reporting paper | A working party of the SAI was asked to consider what, if any, areas an actuary may wish to consider including in such a report in respect of (re)insurance financial statements, if applicable. This paper lists a number of example areas for potential consideration in producing such a report. This document has been expanded to include considerations for financial statements prepared in accordance with IFRS 17 and considerations for life and non-life specialists. |
| ESAP 1 General Actuarial Practice | This ESAP provides guidance to actuaries when performing actuarial services to give intended users confidence that: a) actuarial services are carried out professionally and with due care; b) the results are relevant to their needs, are presented clearly and understandably, and are complete; and c) the assumptions and methodology (including, but not limited to, models and modelling techniques) used are disclosed appropriately. |
| ISAP 4 |
Provides guidance to Actuaries for performing services in connection with IFRS 17. In particular, guidance is provided regarding appropriate actuarial practices around:
|
| IAN 100 | In August 2021, the IAA released International Actuarial Note 100 Application of IFRS 17 Insurance Contracts. This is an educational document that serves to familiarize actuaries with approaches that might be taken to work relating to IFRS 17 Insurance Contracts and to demonstrate how the actuarial profession might approach the topics. |
| Canadian Institute of Actuaries IFRS 17 Publications | In preparation for the new standard, the Canadian Institute of Actuaries have published a series of educational notes, including illustrative examples, including guidance related to the measurement and presentation of insurance contracts under IFRS 17. |
| European Actuarial Note (EAN 4) on IFRS 17 | In January 2023, the AAE General Assembly approved the European Actuarial Note (EAN 4) on IFRS 17. EAN 4 is an educational document for the AAE General Assembly approved the European Actuarial Note (EAN 4) on IFRS 17. EAN 4 is an educational document for actuaries reporting under the IFRS 17. |
| IFRS 17: Insurance Contracts Application Guidance | “IFRS 17: Insurance Contracts Application Guidance” has been published by the UK. The Standard is being applied by HM Treasury in the Government Financial Reporting Manual (FReM) from 1 April 2025. |
| Global Public Policy Committee (GPPC) Guidance |
IFRS 17 Insurance Contracts becomes effective on 1 January 2023. Audit committees need to be active now if they are to provide the strong governance needed to help ensure a robust implementation. As part of their oversight role during the adoption of IFRS 17, insurers’ audit committees need to assess and monitor the effectiveness of their external auditors’ response to the risks of material misstatements – particularly the auditors’ approach to auditing estimates and associated judgements made in the application of the standard. The Global Public Policy Committee (GPPC) – which comprises representatives from the six largest global accounting networks BDO, Deloitte, EY, Grant Thornton, KPMG and PwC – has published a paper to help audit committees evaluate the effectiveness of their auditors’ approach. This paper builds on the two previous papers published by the GPPC in 2020 on guidance for audit committees relating to IFRS 17 implementation.
|
|
Where this information includes links to other sites and resources provided by third parties, these links are provided for general information only. The Society assumes no responsibility for the contents of such third party offerings. Return to main IFRS 17 Working Group page here. |