Alert: Amendments to IFRS 17 Insurance Contracts

Category: IFRS

Alert: Amendments to IFRS 17 Insurance Contracts

In June 2020, the International Accounting Standards Board (IASB) amended IFRS 17 Insurance Contracts in response to concerns and challenges raised by stakeholders on the implementation of IFRS 17. The main objective of the proposed amendments are to ease the IFRS 17 implementation by addressing, and providing support, on several issues encountered by insurers as they started their implementation process. The targeted amendments will also make it easier for insurers to explain the results of applying IFRS 17 to investors.

Alert: Amendments to IFRS 17Insurance Contracts

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Michelle Balmer

Michelle Balmer CPA, CA

Vice President, Assurance

Michelle Balmer, CPA, CA, is a Senior Assurance Services Partner with MNP. With 14 years of experience in public practice, Michelle helps a broad range of public and privately held companies in a variety of industries. She also works on special projects, including costing studies, benchmarking and best-practice studies, operational analyses, litigation support and due diligence.

As a key member of MNP's Assurance team, Michelle has played an instrumental role in assurance policy development, implementing accounting and assurance standards firm-wide and educating assurance practitioners regarding methodologies and new pronouncements. She also provides technical advice and consultation on accounting and assurance issues, as well as on rules of professional conduct issues, to all MNP practitioners.

Michelle was certified a Chartered Accountant (CA) after obtaining a Bachelor of Commerce degree from the University of Alberta. She has been actively involved with the Institute of Chartered Accountants of Alberta, including the Chartered Accountants School of Business, in an instructional and marketing capacity. An avid volunteer, she has assisted numerous groups such as the Easter Seals of Alberta, Paralympic Sports Association and Junior Achievement of Northern Alberta.