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IFRS 17: South Korean insurer implements a computing platform for compliance

Future CFO

South Korea life insurance firm Kyobo Life has implemented a high-performance computing platform for IFRS 17 and K-ICS financial reporting compliance, said AON recently. within 30 hours, with no significant impact on the calculation run-time even when the number of scenarios increased from 200 to 1,000, according to AON.

IFRS 40
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Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

They’re not very good at mathematics or dealing with numbers in general. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. Fine-tuned AI models could assist with complex regulatory requirements, such as those from IFRS, FINRA, and the SEC.

Finance 95
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Turning challenges into opportunities: being a financial controller in 2024

Future CFO

Giselle Arellano-Geronimo A controller, for Geronimo, also has the privilege to make a story out of the numbers and convert the results of the financials into actionable business decisions and strategies that help shape the business. “A

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TEST Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

They’re not very good at mathematics or dealing with numbers in general. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. Fine-tuned AI models could assist with complex regulatory requirements, such as those from IFRS, FINRA, and the SEC.

Finance 52
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Parallel Accounting is a Key Tool for Global Companies with Multiple Reporting Requirements

Bramasol

For example, a company with branches doing business in the United States and the European Union will need to comply with both GAAP and IFRS accounting principles. The account-based approach uses account logic identifiers to assign accounting principles, such as using unique prefixes to determine which accounts use IFRS vs GAAP principles.