“Compliance of the rules & regulation of IAS (International Accounting Standard) in preparing the financial statements of Meghna Life Insurance Company Limited in Bangladesh

Abstract

The disclosure practices of insurance companies need to have a comprehensive system in order to meet the needs of different stakeholders. The present paper is an attempt to evaluate the reporting practices of insurance companies in accordance with the compliance of the all disclosure requirements under legal stipulations as well as non regulatory practices.

The findings show that in the insurance companies do not comply with all the mandatory disclosure requirements in the annual reports. Insurance companies lag behind in compliance with disclosures due to lack of proper regulations in this sector.