Home  Journals  Finance and Credit  34(610) - 2014 September

Insurer'srisks as a result of financial statements transformation under IFRS

Available online: 6 September 2014

Subject Heading: Insurance

JEL Classification: 

Pages: 32-42

The article considers the economic nature of accounting risks of insurance companies, which arise as a result of financial statements transformation under the International Financial Reporting Standards. The author substantiates the need to make provisions to cover the accounting risks. The author also provides recommendations on improving accounting records and financial statements of the insurer with regard to the disclosure of information on accounting risks in order to attract investors.

Keywords: uncertainty, risks, accounting, IFRS, provision

References:

1. Burtsev V.V. Vnutrennii audit v strakhovoi kompanii [Internal audit in an insurance company]. Auditor, 2008, no. 5, pp. 36–43.
2. Palii V.F. Mezhdunarodnye standarty ucheta i finansovoi otchetnosti [International financial reporting standards]. Moscow, INFRA-M Publ., 2007, 512 p.
3. Finansovo-kreditnyi entsiklopedicheskii slovar' [Finance and credit encyclopedic dictionary]. Moscow, Finansy i statistika Publ., 2004, 1168 p.

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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