You are viewing all posts tagged with "IFRS"

Dave Zdechlik

cpa, iWorks, SunGard’s insurance business

12
May
2011

IFRS Implementation – Have you thought about human capital in your IFRS planning?

Contributor: Dave Zdechlik

In my last blog, I discussed that IFRS is coming and it will affect many facets of your organization…not just the accounting department. It focused on assessing how IFRS may affect your organization and some ideas as to what type of planning could take place now. Within this blog I wanted to discuss a topic that should definitely be part of our IFRS planning but may only come to our mind in a general sense when pondering IFRS. Regarding IFRS, we normally think about the accounting pronouncement(s) that may affect our organization. For example, what will our financial statements look like, what new software will be required for our accounting system…etc. But what about our human capital?... read more

Eileen VanScoy

executive vice president, SunGard’s wealth management business

1
Mar
2011

Preparing for the wave of regulatory change and risk initiatives

Contributor: Eileen VanScoy

Risk and regulatory compliance can impact nearly every operational process and technology platform in banks, brokerage and trust firms. Within the coming years, financial services institutions will face a multitude of regulatory and accounting changes. At the same time, they will need to control systemic, counterparty and financial risk, and increase efficiencies and service.... read more

Dave Zdechlik

cpa, iWorks, SunGard’s insurance business

8
Feb
2011

IFRS is coming, IFRS is coming…

Contributor: Dave Zdechlik

I don’t think Paul Revere was very worried about IFRS in 1775; however today, as with the British back then, IFRS is coming. We keep hearing about the SEC decision in 2011. What does that really mean? As mentioned in last month’s blog post, if the SEC decides to require IFRS prepared financial statements, the talk is that 2015 would be the first year of IFRS only financial statements (the first year of no dual reporting of GAAP and IFRS). However, don’t be deceived, the SEC requires three years of comparative financial statements which means 2013 would be the first year of financial statements prepared under IFRS.... read more

Anshuman Anand

actuarial analyst, iWorks, SunGard’s insurance business

25
Jan
2011

Something’s happening here: Solvency II inspires change for India insurers – Part 3

Contributor: Anshuman Anand

Reporting for insurance companies -- IRDA has issued reporting guidelines in the past and has now established a committee to examine the International Financial Reporting Standards (IFRS) proposal issued by the International Accounting Standards Board (IASB) on July 30, 2010, for a comprehensive standard to address recognition, measurement, presentation and disclosure for insurance contracts. The committee will evaluate the various requirements and accounting standards, identify gaps and suggest various measures so that the insurance industry can move towards IFRS compliance by 2012.[1] This is a significant move at a time when the insurance world in general is looking for greater consistency in reporting standards.... read more

Anshuman Anand

actuarial analyst, iWorks, SunGard’s insurance business

18
Jan
2011

Something’s happening here: Solvency II inspires change for India insurers – Part 2

Contributor: Anshuman Anand

In my last post, I discussed capital adequacy as one of the challenges insurers must deal with as the regulatory and reporting environment becomes more demanding and the impact of Solvency II is felt in countries around the world. Today, we’ll explore the implications for the risk management function and the need for strong data control. The Indian Insurance Regulatory & Development Authority (IRDA) is attempting to address some of these issues in some of the regulations it has recently issued, such as the economic capital reporting requirement instituted in 2010.... read more