International Financial Reporting Standards News

Moody’s Offers Software for Insurers Preparing for Reporting Standards IFRS 17

Moody’s Analytics has launched RiskIntegrity™ IFRS 17, a cloud-ready solution designed to help insurers report under International Financial Reporting Standard (IFRS) 17, the new standard governing insurance contracts. This new software will support insurers as they work to meet the …

Bank of England Seeks Brexit Deal to Cover Derivative, Insurance Contracts

The Bank of England said an agreement is needed as part of the Brexit process to protect the “long-term validity” of 20 trillion pounds ($27.1 trillion) of existing derivative contracts. The BOE’s Financial Policy Committee said on Monday that after …

Complex Solvency II Reporting Puts Off Insurer Investors: Willis Towers Watson

The insurance sector is at risk of being further marginalized by investors because performance reporting has become more complicated as a result of Solvency II, according to a report published jointly by Autonomous Research and Willis Towers Watson. Based on …

Swiss Re & SAP Partner to Develop Financial Steering & Reporting Solution

Swiss Re has formed a strategic partnership with SAP SE, the enterprise application software company, to develop a solution to address the increasingly complex demands of global regulators, in the areas of financial steering and reporting. Insurance companies currently must …

Accounting Method May Expose Firms to Shareholder Suits: Study

Disgruntled shareholders are more likely to sue firms that use principles-based accounting standards instead of rules-based standards, according to a recent study by a University of Iowa accounting researcher. The study by Richard Mergenthaler, assistant professor of accounting in the …