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MEFMI works with the Insurance Regulatory Authority of Uganda

  • July 20, 2019
  • Posted by: admin
  • Category: Current News
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In response to a request from IRA in 2018, the MEFMI secretariat confirmed availability and initially worked towards having implementation guidelines for International Financial Reporting standard 9 (IFRS9) by January, 2019. This was to be informed after a critical evaluation of the impact of data quality on with respect to IFRS 9 compliance.

A sector wide meeting was held in Kampala during the week of 17 – 18 June 2019 to:
• To take the industry players through the background to the development of accounting standards in general and IFRS 9 in particular.
• Unveil and discuss the interim results from the findings in the analysis of the data available to date.

The event was attended by 13 participants from the Insurance Regulatory Authority of Uganda and 89 participants from regulated insurance companies, insurance brokers and Uganda Reinsurance.