By CHESTER ROBARDS

Business Reporter

crobards@tribunemedia.net

THE BAHAMIAN INSURANCE industry is facing massive accounting changes that are set to be implemented in September 2011, an extension that was given due to the complex and arduous road ahead for sector stakeholders, the president of the Bahamas Institute of Chartered Accountants (BICA) has revealed.

Reece Chipman said the new International Financial Reporting Standards four (IFRS 4) will help to create a level playing field for the insurance industry, as it will provide all financial statement users and preparers with greater comparability and transparency about performance.

"It is essential that the industry takes part in ...

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