IFRS 17: Insurance Contracts
Comprehensive accounting model for insurance contracts.
Why IFRS 17 matters
Applies to Canadian insurers and any issuer with material insurance contract activity. Implementation has been a generational change.
Framework: International Financial Reporting Standards (IFRS)
IFRS are issued by the IFRS Foundation and used by Canadian publicly accountable enterprises as required by Part I of the CPA Canada Handbook. Auditors test whether the financial statements comply with IFRS as issued by the IASB.
Primary source: IFRS Foundation
Frequently asked
What is IFRS 17?
Comprehensive accounting model for insurance contracts.
Why does IFRS 17 matter for an audit?
Applies to Canadian insurers and any issuer with material insurance contract activity. Implementation has been a generational change.
Which framework does IFRS 17 belong to?
IFRS 17 falls under International Financial Reporting Standards (IFRS). IFRS are issued by the IFRS Foundation and used by Canadian publicly accountable enterprises as required by Part I of the CPA Canada Handbook. Auditors test whether the financial statements comply with IFRS as issued by the IASB.
Related standards — International Financial Reporting Standards (IFRS)
See how Auditus checks IFRS 17
Auditus.ai runs PCAOB, ISA, and CAS engagements end-to-end and cites the exact standard behind every finding — including IFRS 17.