IFRS for Regulators – IFRS 17 Implementation Challenges
On June 26, 2024, the 3rd online workshop on IFRS 17 – Insurance Contracts implementation challenges, grouped 27 participants representing insurance regulators in the Western Balkans and the Caucasus to participate in a discussion with the World Bank Centre for Financial Reporting Reform. Two countries from the Caucasus, Georgia and Ukraine, experienced the implementation of IFRS 17 – in 2023. All Western Balkan countries under the program, have delayed the implementation of IFRS 17.
Strengthening insurance supervision in Albania: training on IFRS 17 Insurance Contracts
A comprehensive training series for the Albanian Financial Supervisory Authority (AFSA) has commenced, with the inaugural sessions taking place from April 16-18, 2024, in Tirana, Albania, as part of the Strengthening Quality of Auditing and Reporting Project (SQARP).
IFRS Regulators Forum: IFRS Update & Climate Financial Risks Matters
The world is seeing growing challenges that are affecting the real – and the financial economy, including banking and insurance companies. In the last two years, countries in Europe and Central Asia (ECA) are seeing the gains of ten years of reform and investment for inclusive growth and shared property drastically diminished by the Covid-19 pandemic, adverse climate events, and the war in Ukraine; these events have been disrupting supply chains and led more recently to rapid changes in prices of energy, food, and commodities, leading to inflation and rising interest rates.