The reconstitution of the Expert Committee announced by IRDAI on the implementation of the Indian Accounting Standards.
The 13-member committee will be headed by Member (Finance & Investment) F&I, IRDAI.
It will also include the Chairman of the Accounting Standards Board of ICAI, Chairman of the Institute of Actuaries of India, CGM, and HOD of the Actuarial Department of IRDAI.
The committee will work on steps to be taken towards effective implementation of Indian Accounting Standards along with giving phase-wise timelines.
The panel members will also give recommendations on proforma financial statements and suggestions on financial disclosures in compliance with Indian Accounting Standards as well as suggestions on what can be made mandatory with immediate effect.
The committee will also address the requirements of guidance notes, APS, and education materials from relevant professional institutes.
The Panel will also address any major issues and concerns arising from the transition activities and any other issues that may be necessary for the transition.
