Three Layers” of global actuarial support for IFRS17

• International Standard of Actuarial Practice (ISAP4).

ISAP –International Standard of Actuarial Practice. The IAA develops ISAPs which are model standards of practice. The IAA encourages its member associations to have in place standards of practice that are substantially consistent with these standards. ISAPs are model standards of actuarial practice and, as such, are not binding on any actuary. All ISAPs are principles based and not prescriptive.

• International Actuarial Note (IAN 100) for IFRS17 that supports the ISAP with appropriate guidance

An educational document on an actuarial subject that has been adopted by the IAA in order to advance the understanding of the subject by readers of the IAN, including actuaries and others, who use or rely upon the work of actuaries.

• Various Monographs that assist with focusing existing educational material on IFRS 17 requirements.

IFRS 17 brings actuaries and accountants together, IFRS 4 vs IFRS 17:

Increased collaboration, experience adjustments, insurance service revenue, insurance contracts and underlying investments disclosures

Financial closing process.