The Insurance Regulatory and Development Authority of India (Irdai) has established a joint expert group to assist insurers with the transition to Indian Accounting Standards (Ind AS). This group, chaired by the member (finance and investment) of Irdai, will function for two years and includes key figures from various regulatory bodies and accounting institutions. Its primary responsibilities include providing implementation support, addressing transition issues, and clarifying audit requirements, particularly regarding the role of actuaries in preparing Ind AS financial statements. Additionally, the group will review and suggest revisions to the formats and disclosures of Ind AS financial statements to enhance clarity. Irdai recently issued final regulations for the transition to Ind AS, which will take effect on April 1, 2026, allowing a one-year forbearance for insurers unable to comply with the new standards, as they currently operate under the Indian Generally Accepted Accounting Principles (IGAAP) framework.