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IRDAI – Constitution of Joint Expert Group (JEG) on Ind AS

The Insurance Regulatory and Development Authority of India (“ IRDAI/Authority ”) has released an Order dated April 01, 2026 bearing Ref. No. IRDAI/IFRS/ORD/MISC/44/04/2026 on the Constitution of Joint Expert Group (JEG) on Ind AS (” Order “).

Key Highlights

  • The Order is released pursuant to the notification of IRDAI (Actuarial, Finance and Investment Functions of Insurers), (Amendment) Regulations, 2026 issued dated March 30, 2026 (” Regulations “).
  • The Regulations under Clause 6 (Part I) of Schedule IIA: Ind AS Finance Functions, provides constitution of a Joint Expert Group comprising representatives from the Insurance Regulatory and Development Authority of India (IRDAI), Institute of Chartered Accountants of India (ICAI), Institute of Actuaries of India (IAI), Securities and Exchange Board of India (SEBI) and National Financial Reporting Authority (NFRA).
  • In view of the above, the Joint Expert Group is constituted as follows:

Joint Expert Group Chair

  • Whole time Member (Finance and Investment), IRDAI

Members

  • Mr. Amit Kumar Jain, Chief General Manager, NFRA
  • Mr. Rajesh Kumar Dangeti, Chief General Manager, SEBI
  • CA. (Dr.) Sanjeev Kumar Singhal, Chairman, Accounting Standards Board, ICAI
  • CA. Vishal Doshi, Vice-Chairman, Accounting Standards Board, ICAI
  • Mr. Anurag Rastogi, Vice President, IAI
  • Ms. Asha Murali, Honorary Secretary, IAI
  • Head of Department (Finance and Investment), IRDAI (Member-Convener)
  • The Terms of Reference (ToR) of the Joint Expert Group are as follows:

Terms of Reference (ToR)

  • To provide implementation support, including recommendation to address transition issues.
  • To recommend the scope and approach for independent validation of process adopted and provide clarity on audit requirements, including involvement of actuaries.
  • To recommend the role of the Appointed Actuary in preparation of Ind AS financial statements.
  • To recommend revisions, if any, to Ind AS financial statement formats and disclosures to enhance clarity, while also considering developments in Ind AS.
  • To examine and address any other issues relevant to facilitating the implementation of Ind AS.
  • The tenure of the Joint Expert Group shall remain for a period of two years from the date of its constitution.

A copy of the Order has been attached herewith for your reference.

Source category: IRDAI

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