HKICPA guidance on HKFRS 17
21 Nov 2023
The Hong Kong Institute of Certified Public Accountants (HKICPA) has issued non-authoritative guidance on HKFRS 17 'Insurance Contracts'.
The guidance comes in two parts (links to the HKICPA website):
- HKFRS 17 'Insurance Contracts' – Journal Entries illustrates the journal entries for basic insurance contract transactions, showing how these journal entries map to the movements in the insurance contract liability and how they are reflected in the income statement.
- HKFRS 17 'Insurance Contracts' – Journal Entries on Reinsurance Contracts Held discusses the accounting for reinsurance contracts held.
