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  • In light of the recent situation in Hong Kong, please login to the QP Learning Centre to check the noticeboard for the special arrangements for QP Workshops.
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  • In considering the unforeseen circumstances in Hong Kong and safety issues these entail, the Institute has decided to call off the Cross-straits, Hong Kong and Macau Accounting Profession Conference 2019 which was scheduled to be held on 27-28 October 2019 at the Kowloon Shangri-la Hotel. We are closely monitoring and reviewing the situation and any further announcements about rescheduling the Conference will be made in due course.
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HKFRS/IFRS 17 Insurance Contracts

Supporting implementation of HKFRS/IFRS 17 Insurance Contracts

 

Background

In May 2017, the International Accounting Standards Board (IASB) issued IFRS 17 Insurance Contracts. In December 2017, the HKICPA's Financial Reporting Standards Committee (FRSC) approved HKFRS 17 Insurance Contracts. For more details on HKFRS 17, click here.

In June 2019, the IASB issued the ED Amendments to IFRS 17, which introduced targeted amendments to IFRS 17 designed to address issues raised during the implementation of the Standard. Comments on the IASB ED were due by 25 September 2019. More information about these amendments can be found at the IASB’s website.

 
How are we supporting implementation of HKFRS 17?

Please see a list of the Institute’s upcoming training for HKFRS 17 here.

 

HKICPA is committed to monitoring HKFRS 17 implementation developments in Hong Kong and internationally, facilitating discussions with the industry, and working together with the industry and the IASB in resolving any challenges. Since July 2017, HKICPA has been providing training on IFRS 17 for industry professionals to develop an in-depth knowledge of the standard. E-mail insurance@hkicpa.org.hk for more information.

 

The Institute issued an Invitation to Comment on the IASB ED on 27 June 2019, with comments due by 19 August 2019. The Institute undertook significant outreach activities and developed its own view through its Financial Reporting Standards Committee to develop its response to the IASB ED.

 

The Institute’s comment letter in response to the IASB ED was submitted on 25 September and can be found at the Institute’s website.

 

Keep in touch with developments on HKFRS 17

 

Sign up for the Institute’s HKFRS/IFRS 17 Insurance Contracts newsletter by emailing insurance@hkicpa.org.hk.
 

 

Major international collaboration and contribution events

 

Key examples of enhanced implementation support for Hong Kong stakeholders

   

Last updated: 2 October 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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