Identification of interpretation and implementation issues on insurance matters, and consider implementation questions raised by operators. IFRS Nigeria Insurance
The Acting Commissioner for Insurance, Sunday Thomas, at the inauguration in Lagos, informed the group made up of NAICOM staff, underwriters and experts from KPMG, said their assignment is to support the Commission in providing technical advice on the adoption of IFRS 17 Insurance Contract and IFRS interpretations on insurance-specific matters and their application within Nigeria.
To assist in the preparation and execution of activities that will facilitate the implementation of the adoption of IFRS 17; monitor changes to IFRS 17 and final pronouncements as may be issued by the IASB, and advice on implications within the Nigerian market. They are also to develop non-mandatory guidance for implementation of the IFRS 17; advice on changes to the relevant Prudential Guidelines or Guidance documents issued by the Commission in conformity with the adoption of IFRS 17; and consider any other financial reporting issues that may arise while executing the mandates of the Working Group.
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