Executive Accountability and NEW Data-set submission from your data-warehouse to APRA
Tue, Nov 15
|Free Webinar
This session is a closed invitation to General, Private and Life Insurance entities lodging data to APRA.
Time & Location
Nov 15, 2022, 12:30 PM – 1:15 PM
Free Webinar
About the Event
Our team of professionals have been monitoring the impact of the new accounting standard, Australian Accounting Standards Board 17 (AASB 17) Insurance Contracts and in particular how insurers will need to report to APRA. The implementation of AASB 17 has, and will continue to, lead to significant change for the industry. A number of other changes affecting the Insurance industry have also been recently announced by APRA including Financial Accountability Regime (FAR) tying individual accountable persons to specific actions by your entity.
On the 27th of September 2022, APRA finalised changes to the capital and reporting frameworks for insurance in response to the introduction of the new accounting standard (AASB 17). The changes aim to minimise any regulatory burden caused by a misalignment between APRA’s frameworks and AASB 17, while ensuring sound prudential outcomes. APRA expects insurers to be well progressed in their readiness for the implementation of AASB 17,…