Investor Presentaiton
32
IFRS17 Awareness
Transition
Comparative
إعادة
Saudi Re
•
Retrospective Approach: IFRS 17 is applied
retrospectively to all contracts in-force at the
transition date unless it is impracticable to do
So. In this case either of the below
approaches can be adopted:
•
Modified retrospective Approach: it is a
modifications to full retrospective
application.
Fair value approach: uses the fair value
of the contracts at the date of transition
to determine a value for the contractual
service margin ('CSM').
•
IFRSS require an entity to present one year of
comparative information., therefore, 2022
financial will be presented as a comparative
information.
IAS 8 requires entities to provide disclosures
about the effect of applying IFRS 17 in the
periods before IFRS 17's mandatory effective
date. Therefore, Saudi Re discloses in its
financial statement the effect of applying IFRS
17.
Public
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