Adoption of IFRS and Financial Disclosure in Pakistan’s Insurance Companies

Abstract

The adoption of International Financial Reporting Standards (IFRS) has grow to be a key element affecting the transparency, comparison and pleasant of economic reporting worldwide. Being a part of economic intermediation, chance control and financial stability, in Pakistan, coverage zone performs a critical function however excellent and comprehensiveness of economic disclosure is inconsistent throughout corporations. This examine appears into the impact of IFRS adoption at the nice of economic disclosure in coverage groups in Pakistan which include indexed and unlisted corporations from 2015 until 2023. Using disclosure index method and accounting best measures, the take a look at examines whether or not compliance with IFRS will increase transparency, decreases records asymmetry and makes monetary statements extra applicable and reliable. The findings advocate that IFRS adoption has huge high quality results at the pleasant and comprehensiveness of economic disclosures and that there are variations among companies primarily based totally on size, governance structures, and awareness of ownership. The examine provides to the literature in phrases of empirical proof from an rising financial system context and additionally assists policymakers, regulators, and coverage managers in supplying significant data to bolster the monetary reporting requirements and investor's self assurance withinside the coverage quarter in Pakistan.