I am looking for an Accounting expert, with excellent knowledge in Auditing, as well as IFRS.
Should be readily available for tasks.
Please get back to me soonest possible.
Duration of the task, 2 hour.
Task Analyze the below said requirement and understand the need of the Insurance customer.
6. IFRS 9 – Debtors provision, impairment for financial assets
7. IFRS 17 – System capabilities and preparedness: -
i. Ability to classify policies and maintain policy data in terms of profitability
(onerous contracts) and year of issue
ii. Ability to estimate direct insurance expenses per contract i.e. acquisition,
management and overhead expenses
iii. Store and report data on all policies covered under a particular reinsurance
iv. Treatment and allowance for deferred acquisition expenses (DAC)
v. Management of investment income (generated from investing insurance
proceeds) and ability to allocate this to specific policies
vi. System ability to generate info that goes into CSM calculation
vii. Estimate and output line items for IFRS 17 financial statements i.e. insurance
revenue, insurance service expense, net investment income, net insurance