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  • IFRS 17 Insurance Contract

IFRS 17 Insurance Contract

17 November 2023

IFRS 17, which supersedes the existing IFRS 4 Accounting Standard for insurance contracts, establishes principles for the recognition, measurement, presentation, and disclosure of insurance contracts within the scope of the Standard. One of the objectives of IFRS 17 is to ensure that an entity provides relevant information that faithfully represents those contracts. This information gives a basis for users of financial statements to assess the effect that insurance contracts have on the entity's financial statement position, financial performance, and future cash flows.

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