IFRS 17 becomes effective for annual reporting periods beginning 1 January 2023, which is only three months away. Implementing a major new standard inevitably presents challenges. There is a substantial effort in installing and testing new or upgraded systems, processes and controls, and coordinating between functions such as finance, actuarial, information technology and group requirements. For users of financial statements, there is a need to understand what is going to change and how it will change.

To assist Irish (re)insurance companies in understanding their level of readiness, we developed a short survey to benchmark the level of readiness in the local market. By sharing this insight on an anonymized basis, we hope to provide useful insights to companies as they work to make IFRS 17 a reality.

Download our short report to learn the headlines and key findings and our observations on what you can do to prepare for your 2023 interim and annual financial statements. 

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Contact us to discuss the results in person. We can provide more colour and share some general aspects of discussions with other clients. If you have any specific questions about the app or how it works please feel free to reach out to our team and we would be happy to assist you further.

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