Business, Commerce and Management Studies Finance, Economics and Accounting

Apply IFRS 4 to Risk Financing and Insurance Training

SAQA US 243159 | NQF 5 | Credits 8 | Duration 5 Days
From $1,242 per delegate

Description

This course equips finance professionals with the skills to apply IFRS 4 requirements to risk financing and insurance contracts. Learners will understand the recognition, measurement, and disclosure principles for insurance contracts under the standard. The course prepares participants to manage financial reporting for insurance-related transactions in compliance with South African and international standards.

Learning Outcomes

  • Apply the scope and definitions of IFRS 4 to identify insurance contracts and risk financing instruments.
  • Analyze the recognition and measurement requirements for insurance liabilities and reinsurance assets.
  • Evaluate the accounting treatment for embedded derivatives and discretionary participation features.
  • Implement disclosure requirements for insurance contracts, including risk management and sensitivity analysis.
  • Demonstrate the ability to transition from IFRS 4 to IFRS 17 (Insurance Contracts) principles.

Target Audience

This course is designed for accountants, auditors, financial managers, and risk management professionals who deal with insurance contracts or risk financing arrangements. It is also suitable for those seeking to deepen their understanding of IFRS 4 in a corporate or consulting environment.

Prerequisites

None — open enrollment

Course Outline

Day 1: Introduction to IFRS 4 and Insurance Contracts

Objectives:
• Understand the scope and purpose of IFRS 4.
• Identify key definitions related to insurance contracts.
• Distinguish between insurance and other financial instruments.
• Recognize the classification of insurance contracts under IFRS 4.

Topics:
• Overview of IFRS 4 and its place in the IFRS framework.
• Definition of an insurance contract and key terms (insured, insurer, premium, claim).
• Distinction between insurance contracts and financial instruments.
• Types of insurance contracts (life, non-life, reinsurance).
• Recognition and measurement principles for insurance contracts.
• Disclosure requirements under IFRS 4.
• Comparison with IFRS 17 (future standard).

Day 2: Risk Financing and Insurance Products

Objectives:
• Understand the concept of risk financing and its role in insurance.
• Identify different risk financing mechanisms.
• Analyze the features of various insurance products.
• Apply IFRS 4 to common insurance products.

Topics:
• Principles of risk financing: retention, transfer, and hedging.
• Captive insurance and self-insurance.
• Life insurance products: term, whole life, annuities.
• Non-life insurance products: property, liability, health.
• Reinsurance: types and accounting treatment.
• Embedded derivatives in insurance contracts.
• Case studies on risk financing structures.

Day 3: Recognition, Measurement, and Deferred Acquisition Costs

Objectives:
• Apply recognition criteria for insurance contracts under IFRS 4.
• Measure insurance liabilities using appropriate methods.
• Account for deferred acquisition costs (DAC).
• Understand the liability adequacy test.

Topics:
• Recognition of insurance contracts: when to recognize.
• Measurement of insurance liabilities: current estimate and risk margin.
• Unearned premium reserve and claims liability.
• Deferred acquisition costs: recognition and amortization.
• Liability adequacy test: methodology and application.
• Impairment of reinsurance assets.
• Practical examples of measurement calculations.

Day 4: Presentation, Disclosure, and Transition

Objectives:
• Prepare financial statement extracts for insurance contracts.
• Comply with IFRS 4 disclosure requirements.
• Understand transition rules from IFRS 4 to IFRS 17.
• Analyze the impact of IFRS 4 on financial statements.

Topics:
• Presentation of insurance contract assets and liabilities.
• Revenue recognition: premiums and claims.
• Disclosure requirements: nature, extent, and risks.
• Sensitivity analysis and risk management disclosures.
• Transition provisions: retrospective vs. prospective application.
• Impact assessment on key financial ratios.
• Case study: preparing disclosure notes.

Day 5: Practical Application and Integration

Objectives:
• Integrate IFRS 4 principles into real-world scenarios.
• Apply IFRS 4 to complex insurance arrangements.
• Evaluate the impact of IFRS 4 on business decisions.
• Prepare for the transition to IFRS 17.

Topics:
• Complex scenarios: long-term contracts, claims development.
• Interaction with other IFRS standards (IFRS 9, IAS 37).
• Business combinations involving insurance contracts.
• Current developments and IFRS 17 implementation.
• Comprehensive case study: full cycle accounting.
• Review and assessment preparation.

Practicals

No practicals for this training.

This course is made up of exercises and case studies delivered alongside the theory — no separate practical sessions are required to complete it.

Summatives

Each delegate is assessed continuously throughout the course and a final summative test at the end.

Daily Exercises — 30%

Every training day ends with a multiple-choice exercise scored out of 100%. The scores from each daily exercise are averaged across the duration of the course to produce a Daily Average mark, which contributes 30% to the final total.

Final Test — 70%

On the last day a final summative test is written. It is a multiple-choice paper with multiple-answer questions: each question may have more than one correct option, and a single wrong selection on a question marks the entire question wrong — no partial credit. The final test is scored out of 100% and contributes 70% to the overall mark.

Final Total
Component Out of Weight
Daily Average (multiple choice) 100% 30%
Final Test (multi-answer multiple choice) 100% 70%
Final Total 100%

All marks are recorded on the AATICD LMS and visible to each learner under their account.

Certificate

Certificate of Completion

Awarded to delegates who achieve an overall mark of 50% or higher on the Final Total (Daily Average 30% + Final Test 70%).

How it works
  • Certificates are auto-generated on the AATICD LMS as soon as the marks pass the 50% threshold.
  • Each certificate is a branded PDF with the delegate's name, the course title, the unit standard ID, NQF level, credits, and the date of issue.
  • You can download or print your certificate from your LMS dashboard at any time after issue — there's no reissue fee and no expiry date.
  • If you scored under 50% you can sit the final test again at the next scheduled session at no extra cost.
Where to find it

Sign in to the LMS, open your dashboard, and your certificates appear under My Certificates. Each entry has a View / Download button and a print option.

Training Discounts

Group discounts apply automatically — the more delegates you enrol, the greater the saving. Discounts are calculated at 3% per 5 delegates, scaling up to 40% off for 100+ delegates.

Delegates Discount
5 3% off
10 6% off
15 9% off
20 12% off
25 15% off
30 18% off
50 30% off
75 35% off
100 40% off

3% discount per 5 delegates, up to 40% off for 100+ delegates. Contact us for a custom group quote.

Upcoming Training Sessions
Online training — attend live sessions from anywhere via our virtual classroom.
Start End Delivery Season Price Action
Mon 07 Sep 2026 Fri 11 Sep 2026 Virtual Spring 2026 $1,242 Register
Mon 28 Sep 2026 Fri 02 Oct 2026 Virtual Spring 2026 $1,242 Register
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Mon 27 Dec 2027 Fri 31 Dec 2027 Virtual Summer 2027 $1,242 Register
Mon 17 Jan 2028 Fri 21 Jan 2028 Virtual Summer 2027 $1,242 Register
On-Campus training — face-to-face sessions at our training venues across Africa and beyond.
Showing all 492 sessions across 26 venues
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Mon 18 Jan 2027 Fri 22 Jan 2027 Your Premises Summer 2026 $1,615 Register
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Mon 08 Mar 2027 Fri 12 Mar 2027 Your Premises Autumn 2027 $1,615 Register
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Mon 22 Mar 2027 Fri 26 Mar 2027 Your Premises Autumn 2027 $1,615 Register
Mon 14 Jun 2027 Fri 18 Jun 2027 Your Premises Winter 2027 $1,615 Register
Mon 05 Jul 2027 Fri 09 Jul 2027 Your Premises Winter 2027 $1,615 Register
Mon 26 Jul 2027 Fri 30 Jul 2027 Your Premises Winter 2027 $1,615 Register
Mon 13 Sep 2027 Fri 17 Sep 2027 Your Premises Spring 2027 $1,615 Register
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Mon 25 Oct 2027 Fri 29 Oct 2027 Your Premises Spring 2027 $1,615 Register
Mon 13 Dec 2027 Fri 17 Dec 2027 Your Premises Summer 2027 $1,615 Register
Mon 03 Jan 2028 Fri 07 Jan 2028 Your Premises Summer 2027 $1,615 Register
Mon 24 Jan 2028 Fri 28 Jan 2028 Your Premises Summer 2027 $1,615 Register
Training Discounts
Delegates Discount
5 3% off
10 6% off
15 9% off
20 12% off
25 15% off
30 18% off
50 30% off
75 35% off
100 40% off

3% off per 5 delegates, up to 40% for 100+

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