As the finalisation of the crucial standard is pending globally, there is no visibility on exactly when the new accounting norms will apply to Indian insurers. After the standards are finalised globally, they will be done so in India by the Indian equivalent of IASB and only then will the IRDAI be able to act on them. … [Read more...] about IRDAI defers new accounting norms for insurers
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But if it is something you enjoy doing and it is something you know how to do, then it is fun. Like a pilot in the Air Force does a dangerous job. But whoever is doing it, obviously enjoys doing it. So they do it.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app. … [Read more...] about What is a good way to run an Audit Committee?
A: Regulation only pushes you to a certain extent. How you manage the spirit of the regulation is important. This is reflected in all facets of life, not just in the corporate sector. We are good at following the letter of the law, but the spirit does not come to us naturally. We have come a long way, but progress is slow. These things take time. So, I am optimistic. … [Read more...] about CFOs must be made legally liable in case of outright fraud: Prabal Basu Roy
Here the details of the shipping bill are filed against the corresponding GST export invoices and submitted in GST returns. However, integrating the bill of entry filed at the time of clearance of goods from port with the GSTN portal of the registered person such as the return form GSTR 2A in case of domestic buying, will ideally help in eliminating the black market for goods. This is likely to plug another leakage point for GST revenue. The same is in line with the international best practices followed by countries which have implemented the GST/ VAT regime. … [Read more...] about 2020 promises key GST milestones
The letter recommends “the suspension of facial recognition systems, pending further review,” saying U.S. citizens shouldn’t be subject to facial recognition surveillance in the course of their daily lives when they’ve done nothing wrong. The privacy groups also point to studies showing that facial recognition often misidentifies people of color in higher percentages. Several cities, including San Francisco, Somerville, Massachusetts, and Oakland, California, have already barred police from using facial-recognition technology. … [Read more...] about Privacy groups want a federal facial-recognition ban, but it’s a long shot