Pre-Implementation Disclosure Requirements of IAS 8 for IFRS 17: A Study of Select Insurance Entities

Abstract

The purpose of this study is to analyse and evaluate the quality of pre-implementation disclosures concerning IFRS 17, as mandated by IAS 8. These disclosures contain essential information for financial statement users, enabling them to understand the potential impact of forthcoming standards on the financial well-being of entities (I. Pavic, 2017). The study focuses on selected insurance entities, chosen based on criteria such as public accountability, net worth, and economic significance (AM Best credit rating agency, US, 2023). The researcher examines the requirements of IAS 8 and assesses the level of compliance. However, despite meeting the formal requirements of IAS 8, the study reveals a lack of meaningful disclosure.

Keywords: IFRS 17, IFRS 4, Insurance Contracts, IAS 8, Pre-implementation disclosure.