Ind AS adoption will lead to tax uncertainty for Indian general, health, and reinsurance companies
Summary Indian insurance companies are required to adopt Ind AS (the Indian equivalent of the IFRS standards) as the basis for financial reporting effective either 1 April 2026 or 1 April 2027. The Income Tax Act…
India: Why are EPF contributions calculated on the full basic salary?
Background On 29 June 2026, India's Central Government introduced the Employees' Provident Fund (EPF) Scheme, 2026, replacing the earlier EPF Scheme, 1952. Both the 1952 and the 2026 schemes are defined-contribution…
Independent validation for Ind AS implementation in Indian insurance companies
Background Indian insurance companies are required to adopt Ind AS (the Indian equivalent of the IFRS standards) as the basis for financial reporting effect either 1 April 2026 or 1 April 2027. The relevant regulation…
Global regulation of AI risk in financial services: Convergent guidance from EIOPA & RBI
Background With AI making inroads into every sector of the economy, regulators across the world find themselves considering how best to mitigate the risks emerging from AI adoption. At present, their answers show a…
Actuaries in insurance audits in India: Detailed FAQs
Background Use the "contents" / "in this article" panel for easy navigation. As mentioned in our earlier article, actuarial liabilities have now been brought within the scope of statutory audits in India for Ind AS…
IFRS adoption brings India's actuarial liabilities under audit scope
Background and adoption date Indian insurance companies so far have been reporting financial results under Indian GAAP. Following a preparatory period, the Indian insurance regulator, IRDAI, has asked insurance companies…