IFRS 17 – probleme de implementare și de transparență informațională pentru companiile de asigurări

Abstract

On 17 May 2017, the International Accounting Standards Board (IASB) promulgated a new insurance accounting standard, International Financial Reporting Standard (IFRS) 17 Insurance Contracts. This standard significantly changed the way insurance accounting is structured at the insurance company level (IASB, 2017). Capital markets will benefit from more transparent and comparable data due to the implementation of IFRS 17. Making international comparisons between insurers will be simplified by IFRS 17, moving on from the fact that the standard is technical and is intended to comply with accounting principles. The purpose of this research is to analyse the requirements for implementing IFRS 17 and the impact that the application of this standard has on insurance contracts issued by specialist companies. In order to achieve this aim, the following objectives have been set: to review the literature in order to present the characteristics of IFRS 17 and to identify implementation and information transparency impediments for insurance companies. The results of this research can help specialised insurance companies to understand the changes of the new standard on financial statements. It may also help to understand the effects of the new standard on key performance indicators. CZU: [657:006.32]:[368.022+368.025.6](498); JEL: M40, M41; DOI: https://doi.org/10.53486/isca2023.05