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This study evaluates the effects and challenges faced by South African state-owned insurance enterprises in adopting International Financial Reporting Standard (IFRS) 17, mainly the effects on financial reporting and contract transparency. Research purpose: The study analyses IFRS 17’s effect on the financial reporting practices and the transparency of insurance contracts within these enterprises. This is the first study to explore IFRS 17’s effects on South African state-owned non-life insurance enterprises from a finance management and executive perspective. It aims to identify key challenges and benefits of implementation while assessing its impact on accounting information quality. A qualitative approach was used, with semi-structured virtual interviews conducted among finance executives and management. Data was analysed using ATLAS.ti software to identify themes and patterns related to IFRS 17 adoption. The study found that IFRS 17 adoption has significantly improved transparency and comparability in financial statements, enhancing clarity in presenting insurance contracts. However, challenges such as the complexity of the standard, increased demand for technical expertise and resource allocation issues were identified. It is recommended that finance executives receive additional training and support to navigate IFRS 17 complexities. Strengthening regulatory frameworks will help maximise transparency and financial reporting improvements while mitigating implementation challenges. This study provides valuable insights into IFRS 17 adoption within state-owned insurers, highlighting its benefits and challenges to support informed decision-making in the adoption and implementation of the international accounting standard.

The current research aims to examine the accounting of digital assets by linking accounting measurement theory to financial disclosure requirements, in light of the challenges related to the absence of specialized international accounting standards for digital assets. The research was divided into two parts: theoretical and applied. The theoretical part included a review of the literature related to accounting measurement (historical cost, fair value, and impairment model) and financial disclosure requirements according to International Financial Reporting Standards (IAS/IFRS) and American standards (FASB, AICPA, and SEC). The applied part used a questionnaire and administered to a sample of financial report users, including academics and professionals, to obtain their opinions on the adequacy of current measurement models, financial disclosure requirements, and shortcomings in international standards. It also explored the possibility of formulating an integrated framework for measuring and disclosing digital assets. The results of the analysis of the questionnaire showed that fair value measurement is more appropriate for the nature of digital assets than traditional models, with the need to enhance disclosure of risks associated with price volatility, liquidity, and operational risks. It also showed that the absence of a specific accounting standard for digital assets leads to poor comparability and increased variation in accounting practices across economic entities. Based on the survey results, an integrated theoretical framework for accounting for digital assets was proposed. This framework includes principles of recognition, measurement, and disclosure, and contributes to achieving the objectives of financial reporting in accordance with the International Accounting Standards Board (IASB) conceptual framework, ensuring relevance, accurate representation, comparability, clarity, and timeliness. The study concluded that developing a specialized accounting framework for digital assets represents a strategic necessity to ensure the reliability and transparency of financial reporting and enhance user confidence, given the rapid growth in the adoption of digital assets within global economic activities.  

This research aims to demonstrate the role of financial statements (balance sheet) in reporting the risks faced by government units and the extent of the risks within these units, in addition to demonstrating the steps through which risks can be managed in these units, whether they are governmental or private economic units. Financial risks are one of the problems facing economic units, whether private or governmental. In turn, decision-makers, both internal and external, work to measure the financial risks facing these units. Therefore, the research problem is as follows, Do financial position statement contribute to reporting financial risks in governmental units (Baghdad Municipality)? In order to achieve the research objectives, the financial position statement of the Baghdad Municipality Department (a government unit) was used, and a set of indicators was used to reach a judgment on the presence or absence of risks, as well as the level of risks facing this unit. It was found that there is a possibility of knowing the risks through the financial position statement, in addition to discovering that the level of risks facing this unit (Baghdad Municipality) is considered high.