A new year. An important new rule: IFRS 17.
Starting January 1, 2023, International Financial Reporting Standards (IFRS)
17 will require you to produce pro forma accounts for the previous year –
2022. This will likely lead to some complexity in how you present accounts in
the IFRS 17 balance sheet.
For example, technical flows stored in third-party accounts that are already
issued or recognized, but not yet collected or disbursed, are considered as
future cash flows traceable to contracts (i.e., as BE). This means they must be
reintegrated into the balance sheet value of insurance contracts.
Axway and Lendys decided to partner and help you to address all together
the four challenges to optimize the presentation of your balance sheet
accounts. Lendys will provide you with the necessary expertise on IFRS 17
specifications related topics and Axway will provide the tooling to automate,
execute and trace the new defined rules.
Read the overview to learn four things you need to know to be ready.