Latest news and stories about accounting standards in Portugal for expats and residents.
Faced with the challenges posed by the new IFRS 18, the International Accounting Standards Board (IASB) is clarifying who can use the fair value option in IAS 28. The problem is that, in doing so, it avoids the question that really matters. It is not a matter of knowing where to classify the results; whether in the operational category or...
The International Accounting Standards Board (IASB) has once again put the insurance sector under pressure with the publication of Exposure Draft ED/2025/1, introducing the concept of Risk Mitigation Accounting (RMA), with amendments to IFRS 9 and IFRS 7, and discontinuing IAS 39. The underlying promise is, at first glance, difficult to dispute, as it aims to bring reporting closer...
A reflection is warranted on whether we are truly willing to reimagine the role of financial statements under IFRS in enabling informed decision-making in the insurance sector. The fundamental purpose of financial reporting is to provide a true and appropriate representation of the economic reality of an insurance company: its financial position, its performance ...
