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
The new new rules
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
This would mean that adoption of a standard template will also ensure that an e-invoice shared by a seller with his buyer or bank or agent or any other player in the entire business ecosystem can be read by machines and hence eliminate data entry errors. In the first phase, E-invoicing has been made mandatory from April 1 for registered persons having aggregate turnover exceeding Rs. 100 crores and shall be applicable only on tax invoice, credit note and debit note. With the new e-invoicing ecosystem, transactions will have more transparency, authenticity and accuracy. … [Read more...] about 2020 promises key GST milestones
The Clearview app may have set off alarm bells because of its broadness of scope. The app can scan the face of anybody in public and match it against a huge database of images scraped from the web.But most law enforcement agencies use facial recognition tech in a more focused way than Clearview AI’s offering, says Jon Gacek, the head of government, legal and compliance for Veritone, which provides recognition technology to law enforcement agencies in the U.S. and Europe. … [Read more...] about Privacy groups want a federal facial-recognition ban, but it’s a long shot
“Our demand is genuine,” said C H Venkatachalam, general secretary of All India bank employees association. “If one adjusts inflation and the work load on employees, the pay must be rewarding,” Venkatachalam said. An IBA official said the issue will be discussed in tomorrow’s meeting. … [Read more...] about Do India’s pubic sector bank employees deserve a 20% pay hike?