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International Financial Reporting Standards (IFRS 19), Insurance and Employee Benefits Calculation in Каzakhstan

INowadays, Каzakhstan companies come to understanding of how important it is to issue all the financial documentation in accordance with IFRS standards. IFRS actuarial calculations are the most wide-spread and well-implemented practiced in regard to social benefits, securities and pension. It is applicable all over the world and acts as a universal standard for financial documentation.

Importance of complying to international financial standards

Financial reports, issued in accordance with IFRS standards might be required for legal entities in the flowing cases and situations:

  • to report to the third parties (e.g. investors, creditors and etc.) which operates under International Financial Reporting Standards to show financial clarity of a company;
  • to standardize all the financial documentation and bring it to a uniform, e.g. manage all the employees benefits under IFRS 19 which makes it easier to compare and analyse information;
  • to provide unified approach to appreciate retirement conditions and social insurance in different countries and fields of industry;
  • to improve effectiveness of management;
  • to provide legal entities with stable income and safe execution of social insurance and employee benefits in Каzakhstan;

IAS employees benefits should be executed in accordance with IAS 19 and other standards stipulated by IFRS in Kazakstan. Key areas of IAS actuarial calculations are pension accounting and insurance. The IAS 19 was revised by IASB not so long ago and now it is necessary to adjust the actuarial system to the new rules and methods. If you need help in dealing with actuarial calculations our company is always ready to provide assistance and improve employees benefits management in your company.

Our services

Our company will provide assistance in forming basic actuarial assumptions on changes in financial and demographic situations (actuarial maths), to classify long-term liabilities in accordance with IFRS actuarial calculations, etc.

We are ready to perform all the required actuarial calculation. Our specialists have the skills and experience required to achieve the best result in your activities. We will develop a method for you to manage the IFRS employees benefits in future.

In Kazakhstan the IAS 19 standard exists in form of P(S)BU 26 Employee Benefits Kazakhstan.

 

Быстрый переход: IAS actuarial valuation Kazakhstan