The importance of the transition to IFRS for insurance companies in Romania

Costin A. Istrate and Dumitru Badea
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Costin A. Istrate: Bucharest University of Economic Studies, Romania
Dumitru Badea: Bucharest University of Economic Studies, Romania

Theoretical and Applied Economics, 2015, vol. XXII, issue Special(II), 9-21

Abstract: Despite the ongoing debate on the difficulties of harmonizing national accounting systems from different countries or different areas belonging to national economies and the fact that much of accounting standards is still a dynamic and continuous process improvement in the IASB the adoption of IFRS are included in the new policy for the globalization of the world economy, allowing both external partners (customers, investors and supervisors) and representatives of companies involved in this process (shareholders, managers, analysts) have access to a new category of information with a higher level of quality and transparent.

Keywords: IFRS; national accounting system; insurance company; insurance market. (search for similar items in EconPapers)
Date: 2015
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