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ISSN: 2344 - 102X

ISSN-L: 2344 - 102X


Article from Volume 9, Number 3, Year 2021

Author(s): Cristina Pasinschi, Elena Hlaciuc, Svetlana Mihaila
DOI: 104316/EJAFB.2021.9311
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
Keywords: Insurance Contracts; International Financial Reporting Standards (IFRS); Service Contract Margin (SCM); Audit
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