Why in News
The Insurance Regulatory and Development Authority of India (IRDAI) has approved Indian Accounting Standards (Ind AS) framework for insurers, effective April 1, 2026.
What is Ind AS
- Indian Accounting Standards (Ind AS):
- Accounting rules for financial reporting
- Based on International Financial Reporting Standards (IFRS)
- Ensures:
- Transparency
- Comparability
- Global alignment
Who Will Follow Ind AS
- Applicable to all insurers: Life insurance companies, General insurance companies, Standalone health insurers, and Reinsurers
| [2019] In India, which of the following review the independent regulators in sectors like telecommunications, insurance, electricity, etc.? 1 Ad Hoc Committees set up by the Parliament 2 Parliamentary Department Related Standing Committees 3 Finance Commission 4 Financial Sector Legislative 5 Reforms Commission NITI Aayog Select the correct answer using the code given below: (a) 1 and 2 (b) 1, 3 and 4 (c) 3, 4 and 5 (d) 2 and 5 |

