| Summary: | 碩士 === 國立中正大學 === 高階主管管理碩士在職專班 === 101 === Taking Cathay Life as a case study, this study analyzes the International Financial Reporting Standards IFRS4 during the actual developing life cycle of financial company. This study discusses corporation business strategy, organizational management, information disclosure and internal audit through expert interviews and financial statement analysis to understand impacts t of IFRS4 financial company.
The results were found that IFRS4 Phase I is a transitional principal which the current practice does no affect overall business strategies of enterprise. The critical factors to successfully import IFRS4 Phase I rely on organizational knowledge sharing and adequate communication. In the future, the parties will have a greater impact on information disclosure when adopting the International Financial Reporting Standards IFRS 4 Phase II. It relies on the ability of internal auditors which have actuarial background to confirm the correctness of the financial information and determine whether the market price of their revaluation compliance the provision.
Due to the main purpose of IFRS4 Phase I is to improve insurers dealing with insurance contract accounting in a limited scale, its impact on overall financial structure is limited. In the future, insurance companies should inspect and modify themselves under the restriction of IFRS 4 Phase II, including the calculation of provision of reserve before it is implemented, product planning strategy adjustment in the early stage. These all need the cooperation of various departments within organization to complete the task.
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