Irda forms panel to prepare IFRS plan

The Insurance Regulatory & Development Authority(IRDA) has formed a panel to chart out an action plan on convergence of international financial reporting standard (IFRS). The working group will be headed by R K Nair, member, IRDA and will furnish its comments on Exposure Draft of IFRS 4 by 5th November. However it will submit its report on other issues covered in terms of reference by end of March, 2011. The panel will be deliberating issues arising out of draft AS 30 (corresponding to IAS 39) standard brought out by the Institute of Chartered Accountants of India (ICAI). The panel will ...

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