Many insurers are providing more disclosure in moving to International Financial Reporting Standards (IFRS), but their varied formats makes comparing company results difficult, an accounting firm reports.
That assessment came from PricewaterhouseCoopers LLP in London after a study of 26 large companies representing different insurance sectors in a range of countries.
The European Union's IFRS commenced on Jan.1, 2005, on an interim basis for insurers, with a harmonized standard for the valuation of liabilities still needing to be put in final form.
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