8. A first-time adopter may apply the transitional provisions in IFRS 4 Insurance Contracts. IFRS 4 restricts changes in accounting policies for insurance contracts, including changes made by a first-time adopter.
[IFRS – Exceptions] – Insurance contracts
![[IFRS – Exceptions] – Insurance contracts](https://faoblog.com/wp-content/uploads/2016/08/FAO-cloud.jpg)