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IFRS 17 Practice and Interpretation for Thai Non-Life Insurance Part 2
In interpreting TFRS 17, each business can develop Guidance Notes that are tailored to their specific operations. These Guidance Notes serve as benchmarks or initial guidelines rather than operational manuals. They allow businesses to adapt TFRS 17 principles according to their unique contexts, reflecting the principle-based nature rather than a rigid Rule-based approach.
Revolutionizing the Insurance Industry with IFRS 17 Part 2
The International Financial Reporting Standard 17 (IFRS 17) specifies three models for calculating the value of insurance contract liabilities:
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