Risk Management and Insurance
International Financial Reporting Standards (IFRS) are a set of accounting standards developed by the International Accounting Standards Board (IASB) that provide guidelines for financial reporting. These standards are designed to ensure consistency, transparency, and comparability of financial statements across different countries and industries, facilitating better decision-making for investors and stakeholders. In the context of claims reserving and financial impact, IFRS plays a crucial role in how insurance companies report their liabilities, ensuring that claims reserves reflect the actual risk exposure and financial obligations.
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