Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ACCOUNTING STANDARDS :: VAT RATES :: due date for vat payment :: form 3cd :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company
 
 
« ICAI »
  Summary of MCA Notification dated 13.06.2017 to give further exemptions private companies as per Section 462 of the Companies Act 2013
 Summary of MCA Notification dated 13.06.2017 to give further exemptions private companies as per Section 462 of the Companies Act 2013
 Exemption to Private Companies u/s 462 of The Companies Act 2013 as per Ministry of Corporate Affairs Notifications Dated 5th June, 2015 and 13th June, 2017
 Four Weeks Residential Programme to be held from 31st July, 2017 to 27th August, 2017 at Centre of Excellence, Hyderabad for Men Participants only.
 Next batch of the Certificate Course on Valuation at Bangalore from 15th July, 2017.
 CPE Events 19th June - 24th June 2017
 Post-implementation Review - IFRS 13 Fair Value Measurement
 Disclosure Initiative - Principles of Disclosure
 Volume XXXV of the Compendium of Opinions
  Permitting members to act as Insolvency Professional under the Insolvency and Bankruptcy Code, 2016 and related matters.
 Permitting members to act as Insolvency Professional under the Insolvency and Bankruptcy Code, 2016 and related matters.

ICAI - Separate audit norms for insurers
May, 12th 2009

The accounting regulator the Institute of Chartered Accountants of India (ICAI) has constituted an expert group to suggest sector-specific accounting norms for insurance companies. The move aims at ensuring that financial statements of insurance firms reflect true natures of financial arrangements. ICAI president Uttam Prakash Agarwal confirmed the development. ICAI is planning to come up with specific accounting standards for the insurance sector, he told ET.

New standards will help in making financial statements of insurance companies public as well as private easier for the investors to comprehend, as it will require the companies to show their fields of revenue generation with clarity, he said. These independent accounting standards for the countrys insurance sector will be in addition to the already existing accounting norms which the insurance companies follows now.

The insurance regulator, Insurance Regulatory Development Authority (Irda) has directed all domestic life insurance companies to tighten their expenses in order to procure durable business. This move came after reports surfaced that insurers are making disproportionately huge commission payments to their intermediaries, other than individual agents. This, in turn, affects the overall financial strength of the companies.

The definition of related parties to intermediaries should be conformity with the accounting standards of ICAI and Companies Act. The regulator has also stipulated that the information certificate given by the company to the regulator should have signatures of the insurers chief executive officer, the chief financial officer and the compliance officer.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions