 Some aspects of the adoption of IFRS-4 (insurance contract) by insurance companies in Bahrain: an exploratory studyP.L. Joshi and Kousay Said International Journal of Managerial and Financial Accounting, 2012, vol. 4, issue 2, 125-147 Abstract: Using a questionnaire method on a small sample size of insurance companies that claim to have been applying IFRS-4 in Bahrain, this study examines to what extent these companies have been applying the provisions of the standard. The study covers the views of the insurance companies on the relevance and usefulness, understanding and knowledge of accounting requirements, and their disclosure practises. The study reports that large-size companies (based on the number of clients) apply a liability adequacy test (LAT) to a larger extent. Deferment of acquisition costs and amortising it over the life of the contract is a common practise. Listed insurance companies, and also those that are audited by BIG4 audit firms, have higher tendency to disclose more information with respect to risk-related disclosures and disclosure of accounting policies. For enhancing transparency and comparability, insurance companies in Bahrain should improve their compliance practises as phase 2 accounting requirements will be more challenging. Keywords: IFRS 4; insurance companies; Bahrain; fiancial disclosure; deferred acquisition costs; DACs; liability adequacy test; LAT; fair value; accounting requirements. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:injmfa:v:4:y:2012:i:2:p:125-147 Access Statistics for this article More articles in International Journal of Managerial and Financial Accounting from Inderscience Enterprises Ltd |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.