Abstract : Insurance is among the most stringently regulated financial services due to its systemic significance, enduring contractual commitments, and risk transfer methods. The globalization of financial markets has led to the emergence of IFRS as a standardized reporting structure to guarantee comparability and transparency. India's implementation of Ind AS signifies a significant convergence effort, especially in insurance contracts, where Ind AS 117 supersedes previous, disparate norms. The implementation of International Financial Reporting Standards (IFRS), specifically Ind AS 117 for insurance contracts, has transformed the accounting and regulatory framework in India's insurance industry. This theoretical study examines the ramifications of IFRS/Ind AS on insurance concerning financial reporting, operational modifications, and regulatory adherence. This report identifies significant obstacles and opportunities through the examination of keywords and content in existing literature, policy recommendations, and scholarly contributions. Research indicates that although IFRS improves comparability, transparency, and worldwide consistency, it simultaneously introduces operational complexity, data difficulties, and regulatory conflicts, especially in reconciling local prudential regulations with international standards.
Cite : Lal, S. K. (2025). Ifrs (Ind As) On Insurance In The Context Of Financial Reporting, Operational And Regulatory Implications (1st ed., pp. 22-36). Noble Science Press. https://noblesciencepress.org/chapter/nspeb-rt21stcmtocc2025ch-03
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