THE INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS OF KENYA
(Established under the Accountants Act, Laws of Kenya)
Introduction to IFRS 17
Date: 23rd February 2023
Time: 04.00pm-06.00pm
Venue: Online
Overview
IFRS 17 establishes the principles for recognition, measurement, presentation and disclosure of insurance contracts. It will replace IFRS 4 on 1st January 2023. It provides information that gives basis for users to assess the effect that insurance contracts have on the Statement of Financial Position and the Comprehensive Income Statement of an insurance company.
Its aim is to introduce a consistent approach for measuring liabilities under insurance contracts, thus removing existing inconsistencies, which enables users such as investors and analysts to meaningfully compare companies and contracts and for insurance companies to realize their profits during their financial period.
To help address the various questions and concerns around Insurance Contracts addressed in IFRS 17, the Institute has organized this Webinar to address this critical topic
Learning Objectives
The following key areas will form the focus of discussion during the webinar
- Overview of IFRS 17- Scope and definitions
- Transition from 1FRS 4
- Presentation in the statement of financial performance
- Disclosures in the financial statements
- IFRS 17 accounting models
- Modification and derecognition of Insurance contracts
- Determining the level of aggregation and group of contacts
- Evaluating contract boundaries and other key contractual features
Target Audience
This webinar will be useful to all professional Accountants and those aspiring to join the profession
Continuous Professional Development Units (CPD Units):
Members of ICPAK and reciprocating professional bodies will be awarded 2 CPD Units upon successfully attending each of the sessions.
Cost:
Charges for the training will be Kes 1,000/= which will cover workshop fees, materials, and e-certificates of attendance.
Online Booking:
We call on Seminar participants to note that booking for is available only online at www.icpak.com/events and will close two hours before the training session. Delegates are reminded to note that online booking for training sessions is mandatory. This is available either online at www.icpak.com/events or on the ICPAK Live – A smart phone-based application that is available from google store.
National Industrial Training Authority (NITA) Reimbursement:
The Institute is registered as a trainer with National Industrial Training Authority. The Institute’s registration number is DIT/TRN/47. Participants who are registered levy contributors should apply to NITA for reimbursement of their fees. Please note that this is applicable for Kenyan citizens only and subject to NITA regulations. Remember that to qualify you should apply to NITA for approval prior to the date of the conference. Further details can be obtained from their website (www.nita.go.ke)
