The Insurance Agency of the Republika Srpska, in accordance with its function as the supervisor of the insurance sector, initiated preparatory activities for the implementation of the International Financial Reporting Standard 17 (IFRS 17). Organized by World Bank consultants, with the support of the Insurance Agency of the Republic of Srpska, on March 20, 2023. In 2008, the first workshop entitled “Preparation for the implementation of the International Financial Reporting Standard 17” was held, attended by representatives of all insurance companies based in the Republic of Srpska, as well as representatives of the Ministry of Finance of the Republic of Srpska.
Within the framework of the workshop, an overview of the basic theoretical concepts of the standard was given, the basis of the impact on the content and structure of financial statements of insurance companies was presented, and the previous international experiences in the application of this standard were presented.