New IFRS model poses a major challenge, experts say

Insurers implementing the International Accounting Standards
Board (IASB)'s new IFRS 17 will find the process a major
challenge due to the huge scale of the operation, according to
Willis Towers Watson.
From 2021, insurers across the world will be expected to use the
IFRS 17 reporting standard - the first global accounting standard
for insurance contracts.
The current standard, IFRS 4, has allowed local Gaap to be used
as a guide in each country, leading to little consistency across
borders...