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Implementing any new accounting Standard can be challenging. The IFRS Foundation has produced an animation to outline three key ways of supporting implementation of IFRS 17 Insurance Contracts, and to show what work is being done to help users of financial statements in the run-up to the effective date of 2021.

The supporting impementation page for IFRS 17, where you can find the video, will be updated throughout this phase with helpful information and other materials relating to the new Standard. These include a technical enquiry service, a series of webcasts, and details about the recently formed Transition Resource Group for Insurance Contracts.

The animation can also be viewed on Youtube.