Tag: standard

Posted on

IFRS – Intro

  • What is IFRS?
    • International Financial Reporting Standards
    • Goal of IFRS standards have been to become a global framework for how organizations should prepare and disclose their financial statements.
    • There are two prevalent and parallel standards:
      • IFRS 9 – focus on financial instruments
      • IFRS 17 – focus on insurance contracts
    • Note that IFRS 17 is not an upgrade of IFRS 9 – these are two different matters (just like two chapters in one book which aren’t sequel or prequel to each-other)
  • What is IFRS 17?
    • Indicates how insurance contracts and connected events should be accounted
    • In one way it’s a successor of IFRS 4
    • International Accounting Standards Board (IASB) publishes IFRS 17 in May 2017
    • The standard is effective for accounting periods ending after January 1, 2022
  • What is IFRS 9?
    • Indicates how financial instruments should be classified and measured
  • IFRS 17 Impact on Financial Statements:
    • Insurance liability needs to be based on updated assumptions
    • Data is needed with lower granularity and with more history
    • Reporting time lines are shortened
  • References:

Posted on

IAM – Introduction

  • What is IAM?
    • IAM stands for Identity and Access Management
    • Its a system that stores, secures and manages all identities and defines access privileges.
    • It ensures that the user is granted controlled access to applications or resources
    • It let’s users login from many inbound flows, including:
      • From any location
      • On any network
      • On any devices
Posted on

SAML – An Intro

  • What is SAML?
    • Security Assertion Markup Language
    • It’s an XML variant language used to encode security credentials and sharing those among parties across a network
    • It is an open standard
    • It describes framework that allows one computer to perform below security functions:
      • Authentication: Determining that the users are who they claim to be
      • Authorization: Determining if users have the right to access certain systems of content
  • Versions:
    • Current: SAML 3.0
    • Most Popular: SAML 2.0
    • Previous: SAML 1.1
  • Identity Provider:
    • Performs authentication and authorization
  • References: