With the 2022 financial year coming to a close, private health insurers face a number of considerations in regulation and their year-end financial reporting, including:
- IFRS 17 and IASB amendment effective for annual reporting periods starting on or after 1 January 2023;
- Environmental, Social and Governance (ESG) strategy and reporting;
- Governance and risk management review by APRA in 2023;
- CPS 234 Tripartite Reviews;
- Climate risk self-assessment survey; and
- Review and refresh insurance risk management guidance by APRA in 2023.
Developments in Financial Reporting and Regulations