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Exhaustive Impact Of Ifrs 17 In The Context Of The Accounting Of Insurance Contracts

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  • Cristina PAȘINSCHI

    (Academy of Economic Studies of Moldova, 2012, Republic of Moldova)

  • Elena HLACIUC

    (Stefan cel Mare University of Suceava, 72022, Romania)

  • Svetlana MIHAILA

    (Academy of Economic Studies of Moldova, 2012, Republic of Moldova)

Abstract

IFRS 17 “Insurance Contracts†represents a new stage in the interpretation and accounting of Insurance Contracts. The need to apply this Standard is imperative in the context of the continuous development of the Insurance field, both nationally and internationally. Given the fact that IFRS 17 “Insurance Contracts†replaces the implemented standard IFRS 4 “Insurance Contracts†, we tried to identify the particularities and innovative elements that are brought with the implementation of the new standard. One of the limitations of the study is that the standard is not yet widely applied, so we have less information on its applicability. At the same time, it stimulates us to carry out a larger study that would serve as a support for the entities that are to implement IFRS 17 “Insurance Contracts†. The topicality of the subject is determined first of all that this standard has a mandatory character of application and a new vision on the accounting methods of the Insurance Contracts.

Suggested Citation

  • Cristina PAȘINSCHI & Elena HLACIUC & Svetlana MIHAILA, 2021. "Exhaustive Impact Of Ifrs 17 In The Context Of The Accounting Of Insurance Contracts," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 17(27), pages 95-103, October.
    • Handle: RePEc:scm:ejafbu:v:17:y:2021:i:27:p:95-103
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    References listed on IDEAS

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    1. Costin Andrei ISTRATE, 2020. "Solvency II între IFRS 4 şi IFRS 17," Journal of Financial Studies, Institute of Financial Studies, vol. 8(5), pages 13-34, June.
    2. Abed Al-Nasser Abdallah & Wissam Abdallah & Feras M. Salama, 2018. "The Market Reaction to the Adoption of IFRS in the European Insurance Industry," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 43(4), pages 653-703, October.
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