Bangkok, OIC issues orders to non-life insurance companies/life insurance companies. Submit financial statements in parallel according to TFRS 17 within August 2024. The Office of the Insurance Commission (OIC) has set guidelines for solving problems together. To be consistent with financial reporting standards related to the insurance business. To prepare for the use of financial reporting standards related to the insurance business, Bork OIC has approved a plan to support compliance with Financial Reporting Standards No. 17 on Insurance Contracts (TFRS 17), requiring companies Insurance submits parallel financial statements and reports on financial status and parallel operations for the 1st quarter of 2024 by August 2024, including requiring the company to carry out the process of examining such information by November 2024. Therefore, the OIC has issued an order to the registrar to order non-life insurance companies/life insurance companies to submit parallel financial statements. and report on financia l status and parallel businesses Prepared in accordance with Financial Reporting Standards No. 17 regarding insurance contracts with parallel financial statements. and report on financial status and parallel businesses that must be reported according to the order, including criteria, methods, conditions, and time periods for preparing and submitting financial statements of non-life insurance companies/life insurance companies. To encourage insurance companies to prepare for the enforcement of TFRS 17, financial information submitted by insurance companies in this activity. There may be an update or change to complete the financial report in the next year. 2568. Source: Thai News Agency
Monday, September 16, 2024