Bridging borders by combatting illicit financial flows and corruption for global financial integrity

Africa's economic potential is hindered by the pervasive presence of illicit financial flows (IFFs), fraud, and corruption, which not only strip the continent of vital resources but also obstruct its path towards sustainable development. The staggering annual loss of $88.6...

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CECL impact on insurance companies

ASC 326, the current expected credit loss (CECL) standard, has substantially changed how entities, including insurers, estimate credit losses on financial assets measured at amortized costs.

How insurance can mitigate risks of cyber attacks

Everyone can be a target of cyber attacks, from large corporations and government institutions to small businesses and individuals. With the threat increasing, insurers have developed products for businesses to provide protection – in fact, cyber is one of the fastest growing lines of business for insurers.

US insurers' journey implementing IFRS 17

The International Financial Reporting Standard 17 (IFRS 17) for Insurance Contracts represents a significant shift in the accounting landscape for insurance companies. Developed by the International Accounting Standards Board (IASB) and implemented in January 2023, IFRS 17 aims to enhance transparency, comparability and understanding of insurers' financial statements.