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The insurer has achieved a ninefold increase in policy issuance while reducing headcount by 20 per cent, through technology investments. CFO Gopal Balachandran outlines the companys focus on health insurance expansion, regulatory compliance, IFRS 17 preparedness, and its approach to profitability and riskmanagement.
IFRS 9 is changing hedge accounting forever. Companies in the European Union have only begun to kick off their IFRS 9 initiatives since the European Commission endorsed the standard in November 2016. IFRS 9 Advantages in a Nutshell. Finance professionals had to hedge for all risks, rather than for just the aluminum component.
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To deliver sustained profitable growth and meet new disclosure obligations CFOs will have to embed sustainability into business decisions by connecting material issues to value creation and riskmanagement. The post Modernising finance reporting in support of ESG appeared first on FutureCFO.
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It’s also the riskmanagement part of the role that keeps the role exciting, crucial, and a continuous growth area,” Ramon adds. It’s always a challenge when you start to implement a new technology,” Ramon concedes.
Climate-related risks and their actual or likely material impacts on the registrant’s business, strategy, and outlook; ? The registrant’s governance of climate-related risks and relevant riskmanagement processes; ? ISSB was established by the IFRS Foundation in response to the Glasgow COP 26 conference in November 2021.
In combination with the SAP Business Technology Platform, the core cloud ERP has access to a wide range of applications and third-party extensions that help clients differentiate their businesses with technologies such as machine learning, process automation and artificial intelligence (AI), such as Joule.
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Held over two days, this year’s event focused on the expanding roles of CFOs in forecasting, planning, and strategic decision-making, highlighting the importance of technological advancements in driving business innovation. We received many designation applications, highlighting CIBA’s value within the industry.
This technology offers unprecedented rewards, but it also presents new risks that we all must navigate. AI driven automation is expected to extend to more complex tasks such as, audits, riskmanagement, and financial planning and analysis. What is Artificial Intelligence? With a large and diverse enough data set (e.g.
Effective practices in this indispensable aspect of business can be defined by 4 categories; personal leadership, technological leadership, operational understanding, financial competency and strategic capacity. Technological leadership. 5 Leadership Competencies for CFOs 1.
Sectors exposed to the greatest climate risk unsurprisingly have the most detailed plans, and these include energy (78%), mining (29%), transport (42%), and telecommunications and technology (43%). Agriculture, however, falls behind, with 47% of those surveyed in that sector disclosing any form of transition plan.
Role of Data and Technology: The potential of data as a strategic business asset, but underutilization in South Africa due to regulatory and economic barriers. Comparisons between South Africa and other countries, where open data initiatives and technology sectors are more advanced. IFRS, US GAAP).
Scenario planning, diversification, and embracing technology like AI are vital strategies. RiskManagement: Identifying and mitigating ESG-related risks, which are increasingly recognized as indicators of potential business vulnerabilities. I once did a analysis of the IFRS Foundation’s budget.
New regulations, technologies, and trends emerge, affecting businesses, investments, and financial decision-making. If you dont keep up, you risk falling behind, making costly mistakes, or missing out on opportunities. Regularly reviewing IFRS updates, tax laws, and business regulations ensures compliance and minimises risk.
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