MANAMA: Challenges of IFRS 17 – a new accounting standard for insurance companies, were highlighted by advisory firm Keypoint during a seminar.
Guruparan Kumarasamy, an executive director with Keypoint, said: “Back in October, when the Central Bank of Bahrain (CBB) issued a circular to all of its insurance licensees requiring them to ensure that they were prepared for the significant changes IFRS 17 will introduce, we knew that the onus was on us to act – even though the standard doesn’t come into effect until 2022 .
&uuid=(email))