Supreme Court Explains that Comprehensive Motor Insurance Covers Occupants of a Vehicle || Supreme Court: Judgments Operate Retrospectively Unless Made Prospective || Supreme Court Clarifies Principles Governing Witness Recall under Order 18 Rule 17 of CPC || Gujarat High Court: Res Judicata Prevents Trustees from Reopening Trust Property Disputes || Allahabad HC: Trial Courts Cannot Examine Witnesses to Generate Fresh Evidence Before Cognizance || Rajasthan HC: Funds Collected From an Illegal Toll Plaza Must Be Used For Tree Plantation || Delhi HC: Minor’s Signature Alone Cannot Establish Consent for Pregnancy Termination || Karnataka HC Allows ECIR Challenge under Article 226, Rejects ED’s Immunity Claim || Allahabad High Court Upholds Transfer of a Dissolved Society's Assets to its Successor Company || P&H HC: Cheque Bounce Cases Remain Compoundable Even After Appellate Courts Uphold Conviction

Implementation of Indian Accounting Standards in insurance sector - (01 Mar 2016)

MANU/IRDA/0006/2016

Insurance

The Ministry of Corporate Affairs advised Insurers to follow Indian Accounting Standards notified under the Companies (Indian Accounting Standards) Rules, 2015, in the specified manner. Insurers shall assess the impact of the Ind AS implementation on their financial position including the adequacy of capital, taking into account the solvency regulations requirements and place quarterly progress reports to their Boards.

Relevant : Circular on Public Disclosures by Insurers MANU/IRDA/0006/2010

Tags : INSURANCE SECTOR IND AS

Share :