Regulatory Alerts2025-01-02
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Appendix 1 - Accounting Policies Instructions No. 28 for 2024
The Central Bank of Jordan mandates licensed insurance companies to prepare consolidated financial statements using specific standardized templates for the balance sheet, income statement, comprehensive income, changes in equity, and cash flows. The document requires adherence to International Financial Reporting Standards, specifically the application of IFRS 17 for insurance contracts, and establishes detailed guidelines for accounting policies, the consolidation of subsidiaries, the use of actuarial estimates, and the calculation of expected credit losses and deferred taxes.
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