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An evaluation of the proposed IFRS 4 Phase II measurement methodology: the impact of South African life insurers
Includes bibliographical references.
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| Main Author: | |
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| Other Authors: | |
| Format: | Thesis |
| Language: | English |
| Published: |
Division of Actuarial Science
2014
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| _version_ | 1867613278633459712 |
|---|---|
| access_status_str | Open Access |
| author | Marszalek, Szymon |
| author2 | Strugnell, Dave |
| author_browse | Marszalek, Szymon Strugnell, Dave |
| author_facet | Strugnell, Dave Marszalek, Szymon |
| author_sort | Marszalek, Szymon |
| collection | Thesis |
| description | Includes bibliographical references. |
| format | Thesis |
| id | oai:open.uct.ac.za:11427/8522 |
| institution | University of Cape Town (South Africa) |
| language | eng |
| last_indexed | 2026-06-10T12:33:35.758Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UCTD — University of Cape Town Open Access Repository |
| publishDate | 2014 |
| publishDateRange | 2014 |
| publishDateSort | 2014 |
| publisher | Division of Actuarial Science |
| publisherStr | Division of Actuarial Science |
| record_format | dspace |
| source_str | UCTD — University of Cape Town Open Access Repository |
| spelling | oai:open.uct.ac.za:11427/8522 An evaluation of the proposed IFRS 4 Phase II measurement methodology: the impact of South African life insurers Marszalek, Szymon Strugnell, Dave Tripe, Peter Includes bibliographical references. Nearly 20 years after inception, the Insurance Accounting project of the International Accounting Standard Board (IASB) is nearing completion. The recently published June 2013 International Financial Reporting Standard 4 (IFRS 4) Exposure Draft represents a likely picture of the future of global insurance financial reporting and it is important that insurers begin to understand and prepare for the changes it will bring. This dissertation explores the key principles and likely impacts of the IFRS 4 Phase II standard, in its current proposed form, in the South African life insurance context. In particular, the proposed IFRS 4 Phase II approach to profit reporting is contrasted with the current Financial Soundness Valuation (FSV) approach for simple illustrative term and endowment insurance products. The results of this comparison form the basis for a discussion of the impacts which the new profit reporting standard will have on insurance contract liabilities and hence profit profiles over time, and an assessment of whether the changes embodied in the new standard better meet the objectives of insurance financial reporting and the needs of the users of financial statements. This dissertation focusses on key areas where there is a high degree of certainty in the exposure draft, and touches more lightly on those areas where change is still expected. The findings indicate that IFRS 4 will result in insurer financial reporting being more principles-based, better meeting the requirements of fundamental financial reporting characteristics and being more comparable with insurer financial reporting internationally. These findings support the conclusion that a move to IFRS 4 for insurer financial reporting in South African will be beneficial to users of financial statements in making economic decisions. 2014-10-17T10:09:50Z 2014-10-17T10:09:50Z 2014 Master Thesis Masters MBusSc http://hdl.handle.net/11427/8522 eng application/pdf Division of Actuarial Science Faculty of Commerce University of Cape Town |
| spellingShingle | Marszalek, Szymon An evaluation of the proposed IFRS 4 Phase II measurement methodology: the impact of South African life insurers |
| thesis_degree_str | Master's |
| title | An evaluation of the proposed IFRS 4 Phase II measurement methodology: the impact of South African life insurers |
| title_full | An evaluation of the proposed IFRS 4 Phase II measurement methodology: the impact of South African life insurers |
| title_fullStr | An evaluation of the proposed IFRS 4 Phase II measurement methodology: the impact of South African life insurers |
| title_full_unstemmed | An evaluation of the proposed IFRS 4 Phase II measurement methodology: the impact of South African life insurers |
| title_short | An evaluation of the proposed IFRS 4 Phase II measurement methodology: the impact of South African life insurers |
| title_sort | evaluation of the proposed ifrs 4 phase ii measurement methodology the impact of south african life insurers |
| url | http://hdl.handle.net/11427/8522 |
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