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Now insurance Cos. need not submit quarterly proforma Ind AS financial statements: IRDA

January 22, 2020
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IRDA in its meeting held on Dec 20, 2019 decided to implement Ind AS 109 and Ind AS equivalent of IFRS 17 simultaneously, along with other applicable Ind AS. IRDA said that it will decide the effective date of implementation after finalising of IFRS 17 by IASB. Accordingly, IRDA has withdrawn the circular dated 28.06.2017 and dispensed with the requirement of submitting Proforma Ind AS financial statements on quarterly basis as directed under 28.06.2017 circular.
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