Critical path to IFRS 17 go-live...IFRS 17 final standard issued by IASB March 2019 Standard...
Transcript of Critical path to IFRS 17 go-live...IFRS 17 final standard issued by IASB March 2019 Standard...
IFRS 17final standardissued by IASB
March 2019 Standard
stabilisation(end of TRG)
December 2019Balance sheetrestatement
September 2020Investor relations
conferences
March 2021Investor relations
conferences
IFRS 17 standardGo-Live
1st January 2021
First IFRS 17 complianthalf year financial statements
before 1st October 2021
Q1 2022First IFRS 17 full yearlyfinancial statements
published
Educate and communicate with investors
Perform parallel run of producing financial statement under IFRS 4 and IFRS 17Transition to IFRS 17
Engagement with regulators and governing bodies (e.g. IASB, EFRAG)
Impact on all internal actuarial review and reporting
Undertake initial interpretation & scoping working backwards from go-live date
Finance data, systems, process and people requirements defined
Solution designing, development, testing and preparation of historic data to determine transition positon
Implement major changes to Actuarial systems
Roll out changes to finance and data
Training of BAU teams
Review of strategy and impact on business plans
2017 2018 2019 2020 2021 2022
Critical path to IFRS 17 go-live