MASB, Staff (2018) Ten things insurance company directors should know about MFRS 17 Insurance Contracts. Piawaian Pelaporan Kewangan Malaysia.
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Abstract
The extent of the changes you’ll need to make depends on the types of insurance contracts your company sells. For straight-forward annual contracts with up-front premiums, the impacts might be limited. For longer-term contracts, the impacts might be considerable. MFRS 17 (which has requirements identical to IFRS 17 Insurance Contracts) supersedes MFRS 4 for reporting periods beginning on or after 1 January 2021. For example, an insurer with a 31 March year end would need to have information systems in place to prepare MFRS 17-compliant financial statements for the year ended 31 March 2022 (with comparative financial statements for 31 March 2021, including a third balance sheet for 1 April 2020).
| Item Type: | Article |
|---|---|
| Divisions: | Government Publication > Goverment organizations |
| Depositing User: | Esam @ Hisham Muhammad |
| Date Deposited: | 02 Jan 2024 06:05 |
| Last Modified: | 02 Jan 2024 06:05 |
| URI: | http://odlsystem2.utm.my/id/eprint/4418 |
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