Изследване на ефектите от влизането в сила на новите международни стандарти за финансово отчитане - 9 финансови инструменти и 17 застрахователни договори върху финансовата стабилност и ликвидност на застрахователите в България
Study of the Effects of the Entry into Force of the New International Financial Reporting Standards - 9 Financial Instruments and 17 Insurance Contracts on the Financial Stability and Liquidity of Insurers in Bulgaria

Author(s): Mariana Petrova Mihaylova, Atanaska Filipova-Slancheva, Nikolina Nikolova, Marionela Stoilkova, Velichka Velkova
Subject(s): Economy, Business Economy / Management, Financial Markets, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: insurance companies; IFRS 17 Insurance Contracts; IFRS 9 Financial Instruments; accounting policies
Summary/Abstract: The collective monograph "Study of the effects of the entry into force of the new international financial reporting standards – 9 Financial instruments and 17 Insurance contracts on the financial stability and liquidity of insurers in Bulgaria" is the result of a research project funded by the University of National and World Economy - Sofia, Bulgaria. The topic of the academic project is new for the research activity both for the UNWE-Sofia and for the professional community in the field of the insurance industry. The relevance of this topic stems from the adoption of International Financial Reporting Standard (IFRS) 9 Financial Instruments and IFRS 17 Insurance Contracts by the International Accounting Standards Board (IASB). The adoption of the new standards comes after many years of expert work, public discussion and approval of basic problem questions. The main objective of the monographic work is the definition of variability of the effects of the entry into force of the new IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts for insurers in Bulgaria and the potential risks for their financial stability and solvency, respectively liquidity. Subject of the study is the applicable accounting legislation, including IFRS, the applicable legislation in the field of insurance, the practices of the leading insurers in Bulgaria, the applicable regulatory requirements, the results of the reviews of the insurers' balance sheets. The applied methodology includes various approaches, such as systemic, historical, structural and legislative, so that, based on observation, comparative, static and dynamic analysis, the objectives of the project can be achieved. These methods were also applied to the reviewed literature, the statistical information used, the empirical research carried out, the author's opinions, conclusions and results. The main scientific results can be summarized in the following several areas: researched are the new principles, approaches and resulting methodologies and models for accounting recognition, evaluation and presentation of financial assets and insurance contracts; studied are the amendments in the insurance regulatory framework at the EU level and, respectively, at Bulgarian level resulting from the requirements of the new IFRS applicable to insurers; presented are the adaptation possibilities and the new accounting policies development of insurers for the initial application of IFRS 9 Financial Instruments and IFRS 17 Insurance Contracts; seven scientific articles and reports on the topic of scientific research have been published.

• Details
• Contents