Implementation of Ind AS for Insurance Entities
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Implementation of Ind AS for Insurance Entities
Transitioning to Ind AS 117: A Milestone for India’s Insurance Sector
The journey towards adopting Indian Accounting Standards (IndAS) has been transformative for many sectors in India. While corporates and NBFCs have successfully transitioned, the insurance and banking sectors were awaiting clarity from their regulators.
Our Early Impressions publication from August 2024 delved into the critical transition measures and the anticipated roadmap from the Insurance Regulatory and Development Authority of India (IRDAI). The recent notifications and directives provide insurers additional time to prepare for a seamless transition, with a target implementation date of 1 April 2027.
Join us as we explore the nuances and challenges of this transition in our latest edition. Together, we can ensure a smooth and successful adoption of Ind AS 117 in India’s insurance sector.
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