Professional Documents
Culture Documents
Introduction
Legal Frame Work
Accounting System
Financial Statements
Audit Report
Audit Plan
Audit Procedure
Introduction
General Insurance Corporation
Incorporated in 1972, has under purview 107
Companies carrying General Insurance
Business in India
IRDA Act 1999
To Protect Interest of Policy Holder
To Regulate & Promote Insurance Business in
India
Powers to Regulate – Registration, Operation,
Supervision & Control
Legal Framework
Opinion on :
Balance sheet – true and fair view of affairs.
Revenue – true and fair view of surplus / deficit
P & L – true and fair view of profit / loss.
R & P – true and fair view of receipt / payment.
Financial Statement prepared in accordance with regulation.
Investment as per regulations
A/c policies appropriate.