Financial Sector (Collection of Data) (reporting standard) determination No. 87 of 2023
Liability Roll Forward 1 — ReconciliatioLiability Roll Forward 1 — Reconciliation of the liability for remaining coverage and the liability for incurred claims
Start here
Get a plain-English read of Liability Roll Forward 1 — Reconciliatio
Turn the raw legal text into a practical explanation grounded in Financial Sector (Collection of Data) (reporting standard) determination No. 87 of 2023.
Liability Roll Forward 1 – Reconciliation of the liability for remaining coverage and the liability for incurred claims
Report the items in the table based on AASB 17.100 requirements to provide reconciliation from the opening to the closing balances of the liabilities for remaining coverage (LRC) and liabilities for incurred claims (LIC). Report the reconciliation from the opening to the closing balance of assets for insurance acquisition cash flows based on the insurer’s interpretation of AASB 17.105A and AASB 17.105B requirements.
Report zero values for line items if they are not applicable.