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      Question

      The Insurance Regulatory and Development Authority of India proposed the adoption of which accounting standards for all insurers starting April 1, 2026?

      A International Financial Reporting Standards (IFRS) Correct Answer Incorrect Answer
      B Indian Accounting Standards (Ind AS) Correct Answer Incorrect Answer
      C Generally Accepted Accounting Principles (GAAP) Correct Answer Incorrect Answer
      D Basel Accounting Framework Correct Answer Incorrect Answer
      E Unified Financial Reporting Standards (UFRS) Correct Answer Incorrect Answer

      Solution

      The Insurance Regulatory and Development Authority of India proposed implementing Indian Accounting Standards for all categories of insurers to improve transparency, comparability, and governance in financial reporting.

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