Applied Research in Financial Reporting

Applied Research in Financial Reporting

An Analysis Of The Effects Of IFRS17 Implementation on the Statement of Financial Position, Statement of Financial Performance and Notes to the Financial Statements of Iranian Insurance Companies

Document Type : Original Article

Authors
Tooba Haghighat 1
Mahnaz Molanazari 2
Ali Rahmani 2
1 Ph.D in accounting, Alzahra University
2 Department of Accounting, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran.
10.22034/arfr.2026.580935.2251
Abstract
The present study aims to analyze the effects of implementing IFRS 17 on the items of the statement of financial position, statement of financial performance, and notes to the financial statements of Iranian insurance companies, as well as to examine the cost–benefit implications of implementing this standard. This research adopts a qualitative approach, and its data were collected through a review of relevant literature, examination of International Financial Reporting Standard No. 17, conducting focus group sessions, and carrying out semi-structured interviews with 23 financial managers, experts, and specialists in the insurance industry. Data were analyzed using the thematic content analysis method of Braun and Clarke (2006). By providing a systematic process for transforming raw data into codes, concepts, and major themes, this method enables an in-depth analysis of experts’ perspectives and facilitates the traceability of findings.
The findings indicate that the implementation of IFRS 17 results in fundamental changes in the recognition of insurance revenues, measurement of liabilities, management of technical reserves, assessment of onerous contracts, measurement models, and related disclosures, and can enhance the transparency of financial reporting. Although the implementation of the standard requires significant costs in the areas of information systems, training, organizational readiness, and regulatory support during the transition period, in the long run it contributes to improving the quality of financial reporting, increasing users’ confidence, and enhancing the international comparability of financial statements.
Keywords
An Analysis of the Effects of IFRS17 Implementation
International Financial Reporting Standard No.17
Insurance Financial Reporting
Financial Statements of Insurance Companies
Disclosure in the Notes to the Financial Statements

  • Receive Date 21 May 2026
  • Revise Date 23 June 2026
  • Accept Date 19 August 2026