Implementation Difficulties & Merits of International Financial Reporting Standard 17 Adoption in Ghana

Author:

Michael Ansong

Abstract

The study examines the impact of IFRS 17 implementation and adoption in the Insurance Industry, specifically, a case of the Life Insurance companies. The objective of the paper is to highlight some key critical areas of the implementation of IFRS 17 reference to the difficulties and merits that will arise from its full adoption while ensuring the life insurance companies also align their distribution strategies towards its implementation.

Publisher

International Journal of Innovative Science and Research Technology

Reference13 articles.

1. Al-Mashhadani, B. N. A. (2020). Challenges of applying IFRS 17 “Insurance Contracts” in the Iraqi Environment. Tikrit Journal of Administration and Economics Science, 16 (49 par 1), 77-96.

2. International Accounting Standards Board (2018). Conceptual Framework for Financial Reporting 2018. Available at https://www.iasplus.com/en/standards/ other/framework. Access date 21/08/2023

3. International Financial Reporting Standards (IFRS) Foundation, 2014.

4. International Financial, Reporting Standards (IFRS) Foundation, 2020.

5. Kapoor, B. & Ruhela, J. (2013). IFRS Implementation – Issues and challenges in India. International Journal of Business and Management Research, 3(2), 103 – 106.

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