IFRS 17 - Insurance Contracts vs APRA CPS 230 Operational Risk Management
What is the difference between IFRS 17 - Insurance Contracts and APRA CPS 230 Operational Risk Management?
IFRS 17 - Insurance Contracts is a other framework applying in International (IASB), with 45 controls across 7 domains. APRA CPS 230 Operational Risk Management is a risk management framework applying in Australia, with 44 controls across 5 domains. They govern different subjects, so the overlap is limited to the governance requirements they share. The mapping below shows where that is.
IFRS 17 - Insurance Contracts45 controls
APRA CPS 230 Operational Risk Management44 controls
Questions people ask about IFRS 17 - Insurance Contracts and APRA CPS 230 Operational Risk Management
What is the difference between IFRS 17 - Insurance Contracts and APRA CPS 230 Operational Risk Management?
IFRS 17 - Insurance Contracts has 45 controls while APRA CPS 230 Operational Risk Management has 44 controls. Both frameworks address compliance requirements but differ in scope, focus, and applicability. Use our platform to explore the exact control-to-control mappings.
Do I need both IFRS 17 - Insurance Contracts and APRA CPS 230 Operational Risk Management?
Whether you need both depends on your industry, regulatory requirements, and customer expectations. Many organizations implement multiple frameworks simultaneously. Our compliance platform helps you map controls between IFRS 17 - Insurance Contracts and APRA CPS 230 Operational Risk Management so you can identify shared requirements and avoid duplicate effort.
How do IFRS 17 - Insurance Contracts and APRA CPS 230 Operational Risk Management controls map to each other?
Our platform maps controls between IFRS 17 - Insurance Contracts and APRA CPS 230 Operational Risk Management at a granular level. Each mapping shows whether controls are fully aligned, partially aligned, or represent gaps. This helps you prioritize implementation when pursuing both frameworks.
Which framework should I implement first, IFRS 17 - Insurance Contracts or APRA CPS 230 Operational Risk Management?
The best starting point depends on your specific regulatory requirements, industry, and customer demands. Consider which framework is most urgently required by your stakeholders or regulators. Use our free compliance platform to run a gap analysis and determine the optimal implementation sequence.
Each framework on its own
Comparisons people read next
Each of these compares one of the two standards above against another it shares controls with.
IFRS 17 - Insurance Contracts vs UAE Virtual Asset Regulatory Authority (VARA) Regulations1 shared controlIFRS 17 - Insurance Contracts vs Nevada Gaming Control Board Cybersecurity Requirements1 shared controlIFRS 17 - Insurance Contracts vs India CERT-In Cyber Security Directions 20221 shared controlAPRA CPS 230 Operational Risk Management vs NIST SP 800-53 Rev 532 shared controlsAPRA CPS 230 Operational Risk Management vs ISO 22301:201927 shared controlsAPRA CPS 230 Operational Risk Management vs SOC 226 shared controls
See all control mappings with interactive gap analysis
Explore the complete mapping between IFRS 17 - Insurance Contracts and APRA CPS 230 Operational Risk Management on our compliance platform.
Written and maintained by Gerard Blokdyk, The Art of Service.