National Insurance Academy, Pune|Financial Management & Financial Services
P862 | Overview of IFRS and IndAS & Its Impact for LIC of India
Academic Year 2026-2027
Duration
4Days
Scheduled Dates
24 Aug 2026 - 27 Aug 2026
14 Dec 2026 - 17 Dec 2026
Background
With the global convergence of financial reporting, International Financial Reporting Standards (IFRS) have become the benchmark for transparency, comparability, and reliability of financial statements. For the insurance industry, implementation of IFRS 17 (Insurance Contracts) and related standards significantly changes the way insurers measure liabilities, recognize revenue, and present financial results.
This 4-days' programme is designed to equip participants with the conceptual clarity and practical insights required for effective adoption and smooth transition towards IFRS-based reporting in the insurance industry.
Learning Objectives
To understand the fundamentals and framework of IFRS with special focus on Ind AS 117 and 109.
To understand the impact of IFRS implementation on insurance contracts, liabilities, financial instruments, disclosures, and solvency considerations.
To share practical insights and case studies from the insurance sector.
To prepare the officials for the operational and reporting challenges during IFRS transition.
To ensure that the accounting and reporting system is well prepared to support LIC in ensuring compliance of Ind AS.
Key Contents
Introduction to IFRS: Indian Accounting Standards (Ind-AS), Objectives and scope.
verview of Indian Accounting Standards: Ind-AS 101, Ind-AS 109, Ind-AS 113, Ind-AS 116 and Ind-AS 117 and their implications.
Preparation of Financial Statements: Recognition, Methods and Measurement.
Disclosure Requirements and Analysis
perational and Reporting Challenges
Who Should Attend
Officials preferably Chartered Accountants from Finance and account Department of Zonal /Divisional Offices, Officials in the cadre of ADM and above from Investment Department, Actuarial Department, Estate Department and IT department of LIC of India from CO and Zonal Offices.
