The Life Insurance Association of Nepal (LIAN) has invited bids from qualified institutions to assist in the implementation of Nepal Financial Reporting Standard-17 (NFRS-17) for its member life insurance companies.
In a notice issued today, the association announced that it is seeking proposals from eligible entities to support the transition to NFRS-17 for the 14 life insurance companies currently affiliated with it. The new standard will be used to prepare the financial statements of these companies.
The selected institution will be required to assess the differences and impact of NFRS-17 on the life insurance operations of these companies. Additionally, the entity will be tasked with developing the framework for the effective implementation of the standard and providing necessary training to the companies’ staff.
Organizations interested in submitting a proposal must do so within the next 15 days.
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