IFRS 17 Insurance Contracts
Financial Reporting, Measurement and
Regulatory Compliance
05 – 09 April 2027
Sandton
Johannesburg South Africa
Register Now! Limited Seats Available!
R19, 999.00 Per Delegate
Course Overview
International Financial Reporting Standard 17 (IFRS 17) is the international accounting standard that establishes the principles for the recognition, measurement, presentation and disclosure of insurance contracts. It replaces IFRS 4 and aims to improve consistency, transparency and comparability in the financial reporting of insurance companies. The standard provides a comprehensive framework for reporting insurance contract obligations, insurance revenue, claims expenses, profitability and financial risks, enabling users of financial statements to gain a clearer understanding of an insurer’s financial position and performance.
A key focus of the programme is the interpretation of insurance companies’ financial statements and the assessment of potential tax compliance risks. Participants will examine how differences between accounting measurements and tax rules can affect taxable income, the treatment of insurance claims and provisions, and the review of reinsurance transactions and related-party arrangements. The programme will also introduce practical techniques for identifying unusual financial movements, reconciling accounting information with tax declarations, evaluating supporting documentation and preparing structured audit findings. Tax implications will be assessed in accordance with the relevant domestic legislation, recognising that IFRS 17 establishes accounting requirements rather than determining tax treatment directly.
By the end of the programme, participants will have strengthened their ability to interpret IFRS 17 information, understand the financial performance and obligations of insurance companies, identify potential reporting inconsistencies and apply risk-based approaches to financial analysis and tax compliance reviews. The programme combines technical learning with practical exercises and case studies to support the effective application of IFRS 17 knowledge in revenue administration and regulatory oversight
Course Objectives
• Understand and interpret the core requirements of IFRS 17.
• Apply key insurance contract recognition and measurement principles.
• Analyse insurance revenue, claims, liabilities and financial disclosures.
• Understand the impact of actuarial assumptions on reported financial results.
• Evaluate potential tax implications of insurance accounting treatments.
• Identify inconsistencies between financial statements and tax declarations.
• Assess tax compliance risks associated with insurance and reinsurance transactions.
• Conduct structured, risk-based insurance-sector tax audits.
• Prepare appropriate audit documentation and evidence-based findings.
Who Should Attend?
• Revenue Authority officials and tax administrators.
• Tax auditors and tax investigators.
• Tax compliance and risk management officers.
• Accountants and financial reporting specialists.
• Financial analysts and revenue intelligence officers.
• International tax and transfer pricing specialists.
• Tax policy and technical services officials.
• Officials responsible for insurance-sector taxation and corporate tax audits.
Course Outline
Module 1: Introduction to IFRS 17 and Insurance Contracts
• Background, objectives and scope of IFRS 17.
• Key differences between IFRS 4 and IFRS 17.
• Identification and classification of insurance contracts.
• Insurance, reinsurance and investment components.
• Key IFRS 17 terminology and principles.
Module 2: Recognition and Measurement of Insurance Contracts
• Initial and subsequent recognition of insurance contracts.
• General Measurement Model (GMM).
• Premium Allocation Approach (PAA).
• Variable Fee Approach (VFA).
• Fulfilment cash flows and risk adjustments.
• Contractual service margin and profit recognition.
• Onerous contracts and recognition of losses.
Module 3: Insurance Revenue and Financial Reporting
• Recognition and presentation of insurance revenue.
• Insurance service expenses and claims.
• Insurance contract assets and liabilities.
• Insurance finance income and expenses.
• Financial statement presentation and disclosures.
• Interpretation of insurance company financial statements.
Module 4: Actuarial Estimates and Insurance Risk Assessment
• Actuarial assumptions and future cash flow estimates.
• Claims provisions and outstanding claims.
• Discount rates and the time value of money.
• Risk adjustment and measurement uncertainty.
• Changes in assumptions and their financial impact.
• Reviewing the reasonableness of insurance liabilities.
Module 5: IFRS 17 and Taxation
• Relationship between insurance accounting and taxation.
• Accounting profit versus taxable income.
• Reconciliation of financial statements and tax returns.
• Tax considerations relating to premiums, claims and commissions.
• Insurance provisions and reserves under applicable tax legislation.
• Deferred tax implications.
• Identification of potential tax exposures and reporting discrepancies.
Module 6: Reinsurance and Insurance-Sector Compliance Risks
• Accounting for reinsurance contracts.
• Reinsurance premiums, recoveries and balances.
• Related-party and cross-border transactions.
• Transfer pricing and withholding tax considerations, where applicable.
• Identifying unusual transactions and unsupported expenses.
• Insurance-sector tax risk indicators.
• Compliance monitoring and risk prioritisation.
Module 7: Tax Audits and Financial Investigations
• Risk-based tax audit planning for insurance companies.
• Examination of premiums, claims, expenses and provisions.
• Review of tax adjustments and supporting documentation.
• Financial statement and tax return reconciliations.
• Use of financial ratios and data analytics.
• Evidence gathering and audit working papers.
• Preparation of audit findings and recommendations.
Module 8: Practical Case Studies and Final Assessment
• Analysis of a simulated insurance company’s financial statements.
• Practical interpretation of IFRS 17 balances and disclosures.
• Reconciliation of accounting profit and taxable income.
• Identification of potential tax compliance risks.
• Simulated insurance company tax audit.
• Preparation and presentation of audit findings.
• Final written assessment and practical evaluation.
End of the workshop
IN HOUSE AND ONLINE TRAINING
While both In-House and Online training can present with cost-effectiveness and time-efficacy, there are some very specific differences between in-house courses and those based online.
The demand for additional courses by individuals or groups of people is increasing. Still, it depends entirely on the preferences of a person what type of training he or she wants to receive. Online courses and in-house training carry some similarities but they are considered to exhibit some very pivotal differences too. Despite that, both types of learning can be really beneficial for attendees.
For Registration and other Training arrangements,
contact us on the detail below.
SOUTH AFRICA : +27 11 057 6001
TANZANIA Cell: +255 687 839 269
WhatsApp +27 82 360 1372 / +27 79 574 0389
info@bmktraining.co.za / www.bmktraining.com
