NImplementation of IFRS affects almost all aspects of an organization, including; financial reporting systems, internal controls, tax, management reward system, liquidity management and transparency. Insurance companies not only secure economic activities and help national deposits by life insurance, but also they transfer policies with foreign insurance companies and transparency and quality of financial information is important to the various stakeholders. These companies have been moving towards IFRS slowly and gradually. The purpose of this study was to consider the factors that can affect the acceleration and success of the implementation of IFRS in the insurance industry. This research is a survey and the data collection tool is a questionnaire. Participants included managers and senior experts of insurance companies. The research findings showed that the effective factors in the successful implementation of IFRS in insurance companies were, technical and electronic preparations, technical factors, infrastructure factors, institutional factors, human factors, management factors, educational factors, economic factors, motivational factors, factors related to specifics of the insurance industry. Each of these factors included items that could contribute to the successful implementation of IFRS. Moreover, in this research, a roadmap for implementing IFRS was presented to smooth the way for insurance companies.owadays
Movaffagh, S., Rahmani, A., Niyakan, L., & Maddahi, A. (2021). implementation of international financial reporting standards in the insurance industry. Applied Research in Financial Reporting, 9(2), 227-256.
MLA
Samira Movaffagh; Ali Rahmani; Laila Niyakan; Azadeh Maddahi. "implementation of international financial reporting standards in the insurance industry". Applied Research in Financial Reporting, 9, 2, 2021, 227-256.
HARVARD
Movaffagh, S., Rahmani, A., Niyakan, L., Maddahi, A. (2021). 'implementation of international financial reporting standards in the insurance industry', Applied Research in Financial Reporting, 9(2), pp. 227-256.
VANCOUVER
Movaffagh, S., Rahmani, A., Niyakan, L., Maddahi, A. implementation of international financial reporting standards in the insurance industry. Applied Research in Financial Reporting, 2021; 9(2): 227-256.
