Изисквания за оповестявания съгласно МСФО 17 в годишните финансови отчети на застрахователите
Disclosure Requirements under IFRS 17 in the Annual Financial Statements of Insurers

Author(s): Velichka Simeonova
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: IFRS 17; insurer; disclosure requirements; financial statements
Summary/Abstract: As entities of public interest, insurers prepare their annual financial statements in accordance with a specific regulatory framework. Effective from January 1, 2023, IFRS 17 „Insurance Contracts“ has significantly changed the accounting practices. In addition to the accounting treatment, IFRS 17 „Insurance Contracts“ introduces several disclosure requirements in the annual financial statements of insurers. The primary goal of these disclosures is to provide users of the annual financial statements with the most accurate, precise, and correct representation. The disclosures made in the annual financial statements under IFRS 17 allow for transparency regarding the creation of accounting information and provide additional details on certain accounting data. The subject of this study is the accounting activities and financial statements of insurers, focusing on the disclosure requirements in the annual financial statements and the information they provide. The methodology used includes the review and analysis of public data on the main types of accounting documents, the processing procedure, assumptions made, valuation methods used, the preparation of the annual financial statement, and the analysis of disclosures made therein in accordance with IFRS 17 „Insurance Contracts“. The main conclusion of the conducted research is that the disclosures in accordance with IFRS 17 „Insurance Contracts“ enable users of the annual financial statements of insurers to understand the valuation methods used, the assumptions made, and additional explanations of accounting information that are of significant importance to the respective insurance company.

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