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IFRS-17


Welcome to Akhtar & Hasan (Pvt) Ltd. Actuaries, the leading experts in IFRS17 consultation services. With over four years of local and international IFRS 17 experience, Akhtar & Hasan (Pvt) Ltd. Actuarieswe offers a comprehensive range of solutions to help you excel in your IFRS17 journey.

With our team of highly skilled actuaries, we bring deep expertise and a track record of success to ensure your compliance and financial success.

At Akhtar & Hasan (Pvt) Ltd. Actuaries, we take pride in our holistic approach, attention to detail, and commitment to excellence. We simplify complex concepts, empowering you to make informed decisions and navigate the complexities of IFRS17 with ease.

With our finger on the pulse of regulatory changes, we proactively ensure your ongoing compliance, giving you the peace of mind to focus on your core business. As industry pioneers, we are at the forefront of the latest developments, enabling us to provide you with the most up-to-date guidance and strategies.

Choose Akhtar & Hasan (Pvt) Ltd. Actuaries as your trusted partner for IFRS17 consultation services. Contact us today to experience our unrivaled expertise, personalized solutions, and dedication to your success. Together, let's navigate the IFRS17 landscape and unlock new opportunities for your business.

Our services include:

IFRS17 Implementation

Financial Disclosures

Guided Explanations

Staff training


Temporary Assignments

Consultant Assistance

Regulatory Compliance

Expert Guidance



IFRS 9 - Expected Credit Loss


A Brief Overview of IFRS 9


The incurred loss model approach has been replaced by the expected credit loss (ECL) model under IFRS 9, which enables organizations to recognize an allowance for expected credit losses at each reporting period. This shift in approach aims to improve the recognition of credit losses by incorporating forward-looking information and addressing concerns about delayed recognition. Although there is no specific methodology defined within the scope of IFRS 9 to estimate ECL, the standard requires the calculations to incorporate:

Expected Value

Probability Weighted

Integrated Analysis

Present Value



How can we assist you?


Akhter & Hassan (Pvt) Ltd. is an actuarial consultancy firm that will facilitate you to account for the provisioning of impaired assets by conducting actuarial valuation within the purview of IFRS 9 and issuing a detailed valuation report which will highlight all the key aspects of the methodology and assumptions used in the valuation process.

Data Collection

Historical Considerations

Unbiased ECL

Sensitivity Assessment


Why Akhter & Hassan for IFRS 9?


With over 5+ years of hands-on experience in IFRS 9, our dedicated team will guide you at every step, from IFRS 9 implementation to ongoing compliance. We are committed to delivering tailored solutions within the specified time frame. For more information or to discuss your IFRS 9 needs, please reach out to us using the provided contact details so that we can help you navigate the complexities of financial reporting with confidence.


IFRS 2


Unlock the true value of your share-based payments and ensure compliance with International Financial Reporting Standard (IFRS – 2) by partnering with Akhtar and Hasan Actuaries Pvt Limited. As a leading actuarial firm in Pakistan and KSA, we offer unparalleled expertise and tailored solutions dedicated to assisting organizations in their IFRS 2 valuation needs. With almost two decades of experience, our commitment to providing high-quality services enables us to take your organization to the next level, delivering a professional and trustworthy level of service.

IFRS 2, Share-based Payment, is an international accounting standard that sets out the requirements for the recognition, measurement, and disclosure of share-based payment transactions. It ensures transparent and accurate financial reporting for arrangements where an entity receives goods or services in exchange for equity instruments or cash based on the value of shares. By aligning with fair value measurement and providing standardized disclosure requirements, IFRS 2 enhances investor confidence, promotes global comparability, and helps organizations attract and retain talent through proper accounting and reporting of share-based payment arrangements.

Why Choose Akhtar and Hasan Actuaries Pvt Limited for IFRS 2 Valuation?


1. Expertise and Customized Approach: At Akhtar and Hasan Actuaries Pvt Limited, we pride ourselves on our team of seasoned professionals who possess extensive knowledge and practical experience in IFRS 2 compliance. We understand that every organization is unique, and we tailor our solutions to align perfectly with your specific requirements. By working closely with you, we ensure that our approach is customized to meet your needs, delivering optimal results.

2. Comprehensive Solutions: From initial assessment to implementation, measurement, and reporting, we provide end-to-end services for share-based payment transactions. Our comprehensive solutions are designed to align with your business objectives and optimize your financial reporting. We leave no stone unturned in delivering accurate and reliable valuations, providing you with a clear understanding of the true value of your share-based payments.

3. Accuracy and Compliance: At Akhtar and Hasan Actuaries Pvt Limited, we understand the critical importance of accuracy and compliance in the field of IFRS 2 valuation. Our experts are well-versed in the intricacies of the standard, ensuring that your share-based payment transactions are appropriately recognized, measured, and disclosed, in full adherence to IFRS 2 requirements. With us, you can trust that the risk of errors and non-compliance is minimized, protecting your organization's reputation and financial standing.

4. Ongoing Support: We believe in building long-term relationships with our clients. Our commitment to your success doesn't end with project completion. We offer continuous support and guidance, addressing your queries and assisting you with any regulatory changes that may impact your share-based payment arrangements. As your trusted advisor, we stay by your side, providing valuable insights and expertise to navigate the evolving landscape of IFRS 2.

Maximize the potential of your share-based payments with the expertise of Akhtar and Hasan Actuaries Pvt Limited. Contact us today to schedule a consultation and discover how our tailored solutions can optimize your financial reporting under IFRS 2. Trust in our professionalism, reliability, and unwavering dedication to your success. Together, we can unlock the true value of your share-based payments.



IAS-19


The seed of this work was sown in 1966. A major UK-based multinational had a pension scheme in Pakistan since the early 1950’s. The scheme was insured and administered by the Pakistan branch of a leading UK life insurer. At the suggestion of a young Pakistani executive, and with the blessing of the UK Head Office, the company decided in the 1966 to withdraw the scheme from the insurer and self-administer it. It contacted Saiyid Saeed Akhtar to negotiate the withdrawal, and he became the scheme’s Consulting Actuary.

By the Grace of Allah, pension consultancy has expanded greatly. The expansion was driven by competition among top employers to attract good personnel. Also, employers realized that without pension and gratuity schemes, their employees would suffer a big drop in income when they retire. Another incentive is their tax-effectiveness. With negligible exceptions, pension schemes are self-administered with the help of consulting actuaries. A strong boost was given to our practice by the Income Tax Ordinance, 1979, which introduced Approved Pension and Gratuity Funds, and provided tax incentives to employers and employees to set these up.

For defined benefit pension and gratuity schemes, accounting standards require periodic actuarial valuation and certification of cost of such schemes, irrespective of whether or not they are funded. The international Accounting Standards Board introduced International Accounting Standard 19, which the SECP Authority has made applicable to Pakistani companies. All this encouraged our practice in the retirement benefits field enabling us to make IAS 19 calculations for companies in Pakistan. The objective of IAS 19 is to prescribe the accounting and disclosure for employee benefits, requiring an entity to recognize a liability where an employee has provided service and an expense when the entity consumes the economic benefits of employee service. The liability and cost are formulated using an actuarial technique known as the Projected Unit Credit method.


We can help your organization to:


Measure the cost of your pension and gratuity schemes by actuarial valuations.

Study objectively whether your retirement/separation benefit package is competitive, and suggest necessary amendments, if any, working out their cost.

Set up or amend your retirement and separation benefit schemes, including documentation.

Administer these schemes, including maintenance of necessary accounting and other records, monitoring investments and suggesting appropriate investment strategy.


National Pension Schemes; Social Security


We can help Governments and other official bodies to make actuarial valuations and projections of their national pension and social insurance schemes, and health schemes. We can also help to design and amend such schemes.

Pakistan’s embryonic National Pension Scheme is the EOBI scheme. We have been closely associated with this from its inception in 1976. The major changes in 1986 were designed by us, under which the minimum pension was raised sharply to a meaningful level. We have conducted several valuations of the scheme and introduce major reforms to improve the scheme, and our active association continues.

We have carried out valuations of the Sindh Provincial Social Security Scheme. We carried out field studies as to the rates of hospitalisation, length of hospitalisation and the frequency of medical consultation


Other Areas


Here are other areas where we can help your organisation, based on our past experience:
we can help your organisation to review its non-life insurances, covering material damage, consequential loss and liability insurances.

we can help you to set up workable and sound medical schemes for both serving and retired employees, and to estimate current and deferred costs.

In many countries, non life insurance companies now use actuaries heavily. Some countries require actuarial certification of non-life insurance loss reserves. We have advised on loss reserves of the Pakistan Insurance and the National Insurance Corporations, and on non-proportional reinsurance. If you are running a non-life insurance organisation, we can help you in these areas.

Finally, if you are running a modaraba or leasing company, we can help you to devise appropriate leasing systems and to make financial projections