IFRS17 Implementation
Ensuring compliance and clarity in your financial reporting
Our expertise in IFRS 17 transforms complex accounting standards into strategic advantages, guiding you toward financial clarity and compliance.
We strive to help insurance companies navigate the complexities of implementing the International Financial Reporting Standard 17 (Insurance Contracts). With a team of experts well-versed in accounting, actuarial science, and regulatory compliance, we offer comprehensive solutions to ensure a smooth and successful transition to this new accounting standard.
Quality Services
What we offer
We review your existing financial and actuarial processes, data systems, and reporting capabilities to identify any gaps that need to be addressed. Based on these findings, we develop a comprehensive implementation plan tailored to your organization's unique needs.
Our consultants guide you in preparing IFRS 17-compliant financial statements and disclosures. This also includes changes to your chart of accounts and trial balances.
We help you to analyze and determine decisions on areas of subjectivity like aggregation & disaggregation, separation and combination, measurement methods, discounting and risk adjustment
We offer tailored training programs to equip your team with the necessary knowledge and skills for IFRS 17 compliance. Our training covers accounting principles, actuarial methodologies, and practical implementation techniques.
Accurate actuarial modeling is at the core of IFRS 17 compliance. Our experts work closely with your actuarial team to develop and validate the necessary models for insurance contract valuation and cash flow projections, ensuring compliance with the new standard's requirements.
We also offer peer review services where implementation has been done using internally teams or other consultants. This ensures your process has allowed for all the various implementation requirements.
Understanding the potential impact of IFRS 17 on your financial statements and operations is essential for strategic planning. We perform detailed impact analyses, evaluating the effect on key performance metrics, capital requirements, and business processes.
We work with supervision and regulatory bodies to develop clear and robust regulatory frameworks, conduct impact assessments, and provide guidance on interpreting the standard's requirements. We review and assess insurance companies' implementation plans, monitor compliance, and offer ongoing support and training to strengthen regulatory oversight
Why work with Acentria
At Acentria Actuarial & Financial Services, we understand what’s on your mind. Our easy process takes care of your actuarial needs, offering reliable coverage that gives you peace of mind. Let us handle your actuarial worries at Acentria.
Innovation
We are Passionate about innovation because we believe its a driving force that fuels creativity, curiosity, and the pursuit of novel ideas and solutions
Data driven analytical capabilities
Our ability to use data, advanced analytics, and technology to extract valuable insights, help us to guide business to make informed decisions
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Our focus is on building connections that guide you towards your next steps. This is achieved by truly understanding your needs and offering the best solution .
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Head office address:
Call Us:
(+254)731 200 999
(+254)731 200 222
Write to us:
actuarial@acentriagroup.com