The proper implementation of IFRS 9 (Financial Instruments) and IFRS 17 (Insurance Contracts) brings numerous advantages to organizations, including enhanced investor confidence, improved consistency, and increased transparency in financial reporting. These standards also facilitate better comparability of financial information across global markets.

This course is designed to provide participants with in-depth knowledge of both IFRS 9 and IFRS 17, focusing on their practical application, key challenges, and recent updates. Through expert instruction and real-world examples, participants will gain the skills needed to interpret and implement these standards effectively within their organizations.

This course provides an in-depth analysis of IFRS 9 Financial Instruments. It provides numerous examples and illustrations to explain the business model and the cash flow characteristics test for classification of financial assets, amortised cost and fair value measurement of financial assets and financial liabilities, de-recognition of financial assets (retained servicing, continuing involvement etc.), measurement of expected credit losses and the accounting and impact of different types of hedges on financial statements. In addition, it covers the disclosures in IFRS 7 and the principles of fair value measurement in IFRS 13.

IFRS 17 applies to all insurance contracts issued, including reinsurance. IFRS 17 also applies to certain investment contracts with discretionary participation. The standard does not relate only to insurance companies, but to all entities engaging in insurance contracts. IFRS 17 in principle, transfers all the principles from IFRS 4 to identify an insurance contract. Through this training, participants will gain the skills needed to analyze IFRS 17’s impact on financial statements, ensuring a solid foundation for future compliance.

Participants will learn how to apply IFRS 17 principles and requirements to accurately account for insurance contracts in financial statements. The course covers techniques for identifying insurance contracts, determining contract boundaries, and assessing the expected cash flows and insurance contract liabilities.

By the end of the course, finance and accounting professionals will be fully equipped to navigate the complexities of international accounting standards and ensure compliance in line with global best practices.

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