Keyword
accounting
How to reconcile financial results pre- and post-IFRS 17
January 24, 2024 by Jason ContantInsurance professionals looking to reconcile financial results pre- and post-IFRS 17 implementation need to understand specific accounting policy choices their company has taken because it’s “not going to be apples to apples right across the board,” a Wawanesa executive said.…
How ready are Canadian insurers for IFRS 17?
November 30, 2022 by Jason ContantCanadian insurers appear to be in a ‘pretty good place’ when it comes to implementation of the upcoming IFRS 17 insurance accounting standard but Canada’s federal solvency regulator recognizes the change is complex and will be challenging. “Accounting systems are…
Are you ready for the changes in IFRS 17?
September 22, 2021 by Jason ContantLearning how to “speak IFRS 17” will be an essential skill for insurers for both ongoing effective governance and communicating business performance to stakeholders, a partner at PwC Canada said. The changes in the upcoming insurance accounting standard can significantly…
How your federal corporate tax reporting rules could change
April 21, 2021 by Greg MeckbachSome brokerages might be at greater risk of being audited by Canada Revenue Agency or having to file more tax paperwork if measures proposed in Monday’s federal budget come to fruition. The federal government is proposing new requirements for corporations…
Opportunity or Obligation?
January 9, 2018 Kristen Cornell, Principal, Industry Value Engineering, SAP CanadaDoing the bare minimum to comply with IFRS 17 may save you money in the short term, but there’s a bigger opportunity to transform your company digitally
Global insurers struggle with regulatory and accounting compliance: study
September 11, 2017 by Canadian UnderwriterAs insurance firms invest in more complex securities, they struggle to manage data and meet regulatory reporting requirements, a newly released study has found. Addressing local regulation and accounting standards is the leading operational challenge when it comes to firms’…
Approved Surety & Casualty launches program to enhance contractor bonding limit
June 12, 2017 by Canadian UnderwriterToronto-based Approved Surety & Casualty Inc. announced on Monday that is has launched a capital disbursement program for brokers to enhance contractor bonding limit. “Approved Capital is a capital disbursement program for brokers that will allow their contractor clients to…
Supreme Court of Canada hears appeal from auditing firm over $118-million judgement arising from Livent fraud
February 15, 2017 by Canadian UnderwriterIf the Supreme Court of Canada upholds a Court of Appeal for Ontario ruling against Deloitte & Touche, corporate auditors “will be encouraged to resign an audit before they feel they can responsibly do so in order to minimize the…