Maintenance of books of account, records, etc.

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....lance sheet as at the end of each financial year; (ii) a profit and loss account for that period, which shall be maintained on accrual basis; (iii) a statement of cash/fund flow (direct method); (iv) Additional statements on its business as may be specified by the Authority. Explanation: For the purposes of this regulation, the financial year: (i) for a....

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....e 30th September every year, whichever is earlier, along with the remarks or observations of the auditor, if any, on the conduct of the business, state of accounts, etc., and a suitable explanation on auditor's observations/remarks from the insurance intermediary. (4) Every insurance intermediary shall, within ninety (90) days from the date of the Auditor's report take steps to rectify the defi....