Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

Georgia’s public sector balance sheet (PSBS) is in relatively healthy shape, with assets exceeding liabilities, and is comparatively lean. Looking across all entities that the government controls, including the central government, local governments, the State-Owned Enterprise (SOE) sector and the National Bank of Georgia (NBG), total assets are worth 149 percent of GDP, made up of cash, loans, infrastructure, land and productive SOE assets. Liabilities are worth 81 percent of GDP, primarily comprising loans and debt of the government and SOEs. This leaves positive net worth of 68 percent of GDP, putting it in the top third of countries in the IMF’s database.

Economic policy --- Accounting standards --- Accounting --- Civil service & public sector --- Economic sectors --- Finance, Public --- Financial reporting, financial statements --- Financial statements --- Fiscal accounting and reporting --- Fiscal policy --- Fiscal risks --- Macroeconomics --- Public Administration --- Public Enterprises --- Public finance & taxation --- Public finance accounting --- Public Finance --- Public financial management (PFM) --- Public Sector Accounting and Audits --- Public sector --- Public-Private Enterprises --- Georgia

Choose an application

• Reference Manager
• EndNote
• RefWorks (Direct export to RefWorks)

The paper explores the use of accounting standards for insurer solvency assessment in the context of the implementation of IFRS 17. The paper is based on the results of a survey of 20 insurance supervisors. Overall, IFRS 17 is a welcome development but there will be challenges of implementation. Not many insurance supervisors currently intend to use IFRS 17 as a basis for solvency assessment of insurers. Perceived shortcomings can be overcome by supervisors providing clear specifications where the principles-based standard allows a range of approaches. Accounting standards can provide a ready-made valuation framework for supervisors developing new solvency frameworks.

United States --- Accounting --- Finance: General --- Insurance --- Industries: Financial Services --- Insurance Companies --- Actuarial Studies --- Accounting and Auditing: Government Policy and Regulation --- General Financial Markets: Government Policy and Regulation --- Pension Funds --- Non-bank Financial Institutions --- Financial Instruments --- Institutional Investors --- Public Administration --- Public Sector Accounting and Audits --- Bankruptcy --- Liquidation --- Financial services law & regulation --- Finance --- Public finance accounting --- Insurance & actuarial studies --- International Financial Reporting Standards --- Insurance companies --- Accounting standards --- Solvency --- Financial regulation and supervision --- Financial institutions --- Public financial management (PFM) --- Financial sector policy and analysis --- Banks and banking --- State supervision --- Finance, Public --- Debt