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Some aspects of the adoption of IFRS-4 (insurance contract) by insurance companies in Bahrain: an exploratory study

Author

Listed:
  • P.L. Joshi
  • Kousay Said

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.

Suggested Citation

  • P.L. Joshi & Kousay Said, 2012. "Some aspects of the adoption of IFRS-4 (insurance contract) by insurance companies in Bahrain: an exploratory study," International Journal of Managerial and Financial Accounting, Inderscience Enterprises Ltd, vol. 4(2), pages 125-147.
    • Handle: RePEc:ids:injmfa:v:4:y:2012:i:2:p:125-147
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    Cited by:

    1. Hamed, Ruba Subhi & Al-Shattarat, Basiem Khalil & Al-Shattarat, Wasim Khalil & Hussainey, Khaled, 2022. "The impact of introducing new regulations on the quality of CSR reporting: Evidence from the UK," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 46(C).
    2. Belen Fernandez‐Feijoo & Silvia Romero & Silvia Ruiz, 2018. "Financial Auditor and Sustainability Reporting: Does it matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(3), pages 209-224, May.

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