Every year, the International Accounting Standards Board (IASB) publishes new standards and amendments that significantly affect the presentation of financial statements. Creating financial reports in accordance with International Financial Reporting Standards (IFRS) is, therefore, quite challenging.

In May 2017, after almost 20 years of development, the International Accounting Standards Board published IFRS 17 "Insurance Contracts". IFRS 17 completely replaces the current IFRS 4 (published in March 2004) and the full application of the new standard becomes effective for annual periods beginning on or after January 1, 2023.

Segmental information is one of the ways to increase transparency in financial statements prepared for investors and shareholders, especially for business areas that are significant and drive the entity's overall business strategy. IFRS 8 (International Financial Reporting Standards) requires that information provided to management be published in annual financial statements, so that investors and other users of the entity's financial statements have access to all information.