Introduction
The Advanced IFRS 17 Actuarial Closing Module course is designed to provide an in-depth understanding of the sophisticated assumption-setting methodologies and detailed actuarial and accounting closing procedures essential for successfully performing IFRS 17 financial closing. Through a practical and industry-focused approach, this course enables participants to develop the necessary expertise to navigate the complexities of IFRS 17 closing and effectively apply their knowledge in real-world scenarios.
The course places a strong emphasis on the detailed methodologies for the financial closing process of the Liability for Remaining Coverage (LRC) and the Liability for Incurred Claims (LIC). It systematically explains the key elements and procedures to consider in the calculation of these liability components. Additionally, it provides an in-depth discussion on the interpretation of the IFRS 17 standard, addressing critical industry issues, consensus views, and decision-making processes. This ensures that participants gain practical insights into the interpretation and application of the standard.
Furthermore, the course includes hands-on exercises on the derivation of economic assumptions, covering real-world cases such as the calculation of disclosure interest rates and variable fund mapping. Through these exercises, participants will learn effective methodologies for setting economic assumptions and enhance their ability to apply them in practice. By completing this course, participants will acquire the specialized expertise needed to meet the complex requirements of IFRS 17 financial closing.