Maintenance of books of account, records, etc.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... (a) A balance sheet at the end of each financial year; (b) A profit and loss account for that period, which shall be maintained on accrual basis; and (c) A statement of cash/fund flow (direct method). Explanation: For the purpose of these regulations, the financial year shall refer to a period of twelve (12) months commencing from 1st April and ending on the 31....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on on auditor's observations/remarks from the IWA, within thirty (30) days of holding of the annual general meeting or before 30th September every year, whichever is earlier. (5) An IWA shall, within ninety (90) days from the date of the Auditor's report take steps to rectify the deficiencies, if any, mentioned in the auditor's report and inform the Authority accordingly. (6) An ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ks of account, documents, statements, contract notes etc. may be maintained in non-editable electronic retrieval form. (8) Every IWA shall maintain the following insurer-wise records; (a) Leads generated, transmitted, converted into policies and remuneration received therefrom; (b) Products displayed on the website for comparison; (c) Remuneration received for Product....