KPMG’s IFRS 17 Tool is an end-to-end solution that assists management to perform complex calculations, and create accounting record, financial statements and disclosures for insurance contracts under the IFRS 17 accounting standard.

Business use

  • Developed and implemented specifically for IFRS 17
  • Clear and visible output, with detailed granularity, results to be used for further reporting activities (unit of account level)
  • One web interface access point for all IFRS 17 solutions, including tools for reporting and calculation

Flexibility

  • Flexible configuration ready to adapt to changes
  • Opportunity to use an integrated platform for financial reporting and disclosures

Compliance

  • Audit logs: The old and new values of the transaction updates performed on the application take place in the system
  • Application logs: The updates and inserts that users have made on the screens on the application are saved
  • Service logs: During service integration, data and user information are kept in the system
  • Validation of inputs and IFRS results through tools available on the web interface

Transparency

  • Traceability with the ability to drill down to the lowest level