IRDAI Clarifies Actuary’s Role and Validation Norms for Ind AS Transition

IRDAI’s July 14 circular spells out how insurers should handle the shift to Ind AS accounting standards, defining the Appointed Actuary’s responsibilities in preparing Ind AS financial statements and setting out an independent validation framework covering governance, risk assessment and reporting. It’s the regulator’s second round of clarifications on the Ind AS transition.

Source: TaxGuru — https://taxguru.in/corporate-law/irdai-clarifies-ind-as-implementation-validation-actuarial-requirements.html