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Preparing to implement NFRS 17 in the insurance sector from next July
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In the insurance sector as well, since the Nepal Financial Reporting Standard-17 (NFRS-17) will be fully implemented from July 1, preparations for that have been made extensive. At the same time, various discussion programs were held with stakeholders in Kathmandu.
On Wednesday, a discussion and interaction program was held with accounting regulatory bodies and stakeholders on the necessary preparations for the implementation of NFRS-17 under the organization of Nepal Insurance Authority.
The authority has informed that the stakeholders have been interacted with regarding NFRS-17, which is about to be fully implemented in the insurance sector, the preparations to be made by insurance companies, the role of accounting regulatory bodies, the use of manpower and the latest technology. In the
event, Nepal Insurance Authority President Surya Prasad Silwal said that insurance companies will start NFRS-17 He said that since it has to be implemented, it should be taken seriously and necessary preparations should be made from now on. "Even if it is difficult to implement NFRS-17, it should be implemented, it can be done, guidelines should be made and the regulatory bodies are ready to help," he said.
Association of Nepal Chartered Accountants (ICAN) President Praveen Kumar Jha expressed his commitment to fully support the implementation of NFRS-17 in the insurance sector, including information exchange from ICAN.
The Chairman of Auditing Board, Anup Kumar Shrestha, said that in order to improve the quality of auditing, attention should be paid to enhancing the capacity of the existing manpower and attracting quality manpower. In the
program, the officials of the Institute of Chartered Accountants of Nepal, Board of Auditors and Board of Accountants, presidents of Nepal Insurance Association and Nepal Life Insurance Association and chief executive officers of life insurance companies, non-life insurance companies and reinsurance companies and heads of finance departments participated.
प्रकाशित : आश्विन ३, २०८१ १८:०२
