Council of Institute of Actuaries of India, in its meeting held on 24th August 2012 adopted Vision, Mission and Value Statement

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-05102023-249148 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 660] NEW DELHI, FRIDAY, SEPTEMBER 22, 2023/BHADRA 31, 1945 INSTITUTE OF ACTUARIES OF INDIA (A statutory body established under an Act of Parliament) ANNUAL REPORT AND ACCOUNTS 2022-23 [Note: The initial pages of this document (masthead through approx. mid-document) are in Hindi and were not rendered for extraction per the production PDF-image pre-rendering; extraction resumes from the point the English-language content begins, which by page 115 of 154 is already within the report's Training section.] TRAINING REPORT (excerpt of training programmes conducted, FY 2022-23) +------------------------+--------------+-----------+-------+------------+------------+------------------------------+ | Subject | Participants | No.Session| Hours | Start | End | Faculty | +------------------------+--------------+-----------+-------+------------+------------+------------------------------+ | Soft Skills | 83 | 18 | 36 | 30-07-2022 | 30-08-2022 | Ms. Jacqueline Vales, Mr. | | | | | | | | Rajan Gaonkar, Mr. Shyam Lata | | General Insurance | 228 | 13 | 26 | 10-09-2022 | 10-10-2022 | Mr. Anurag Rastogi, Mr. | | | | | | | | Siddesh Ramasubramanian, Mr. | | | | | | | | J. V. Prasad, Mr. Vishnu | | | | | | | | Vardhan Palreddy, Mr. Arindam | | | | | | | | Chakraborty, Ms. Smita | | | | | | | | Tibrewal, Ms. G.V.Subhashree | | | | | | | | Nigamma, Mr. Jean-Baptiste | | | | | | | | Pleynet | | Work Shop On R | 72 | 12 | 24 | 15-10-2022 | 09-11-2022 | Dr. Raju Narayanan | | Data Science | 189 | 35 | 70 | 02-01-2023 | 05-04-2023 | Mr. Vamsidhar Ambatipudi | | Actuarial Training for | 36 | 8 | 12 | 06-02-2023 | 07-02-2023 | Dr. K. Sriram, Ms. Chitra | | EPFO | | | | | | Jayasimha | +------------------------+--------------+-----------+-------+------------+------------+------------------------------+ The Report also narrates the Global Conference of Actuaries (GCA), various seminars, webinars, and the Annual General Meeting activities conducted by the Institute during FY 2022-23, followed by photographs of Institute events (training sessions, seminars, prize/scholarship distributions). INDEPENDENT AUDITOR'S REPORT — auditors: R. Devendra Kumar & Associates, Chartered Accountants (CA Noor Alam, Proprietor, Membership No. 177737, Registration No. 114207W), Place: Navi Mumbai, Date: 16/09/2023, addressed to the Members of Institute of Actuaries of India, expressing an opinion on the financial statements comprising the Balance Sheet as at March 31, 2023, the Statement of Income and Expenditure, and the Cash Flow Statement for the year then ended. BALANCE SHEET (extract, ASSETS side, as at 31-03-23 / 31-03-22, Amt. in Rs.): (c) Loans and Advances (Note 11): 29,680,840 / 24,164,705 (d) Interest Accrued on Investment (Note 12): 137,393,466 / 114,749,385 Total Assets: 977,149,880 / 904,084,019 Signed for INSTITUTE OF ACTUARIES OF INDIA: R Arunachalam (President), Preeti Chandrashekhar (Vice President), Ashish Ranjan (Honorary Secretary). Signed for R. Devendra Kumar & Associates, Chartered Accountants: CA Noor Alam, Proprietor. STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED MARCH 31, 2023 (Amt. in Rs.): +--------------------------------------------------+---------+-------------+-------------+ | Particulars | Note No | 31-03-23 | 31-03-22 | +--------------------------------------------------+---------+-------------+-------------+ | I. INCOME FROM FEES & SEMINARS | | | | | (a) Educational Services & Exam Fees | 13 | 76,444,932 | 84,240,699 | | (b) Online Coaching & Training | 14 | 14,088,900 | 6,746,466 | | (c) Members Contribution | 15 | 19,102,440 | 16,618,762 | | (d) Seminar Fees (GCA) | 16 | 43,810,811 | 27,316,555 | | (e) Seminar Fees (Others) | 17 | 5,436,394 | 4,538,174 | | II. INVESTMENT INCOME | | | | | (a) Interest | 18 | 48,218,499 | 39,477,916 | | (b) Profit/(Loss) on sale of Investment | 19 | - | 19,679,760 | | (c) Less: Transfer to specific fund | 20 | -32,006,644 | -35,435,480 | | III. OTHER INCOME | 21 | 6,089,590 | 5,416,618 | | TOTAL INCOME (I) | | 181,184,922 | 168,599,468 | | IV. EXPENSES | | | | | (a) Expenses of Institute | 22 | 128,080,409 | 75,555,823 | | (b) Internal Audit Fees | | 150,000 | 100,000 | | (c) Statutory Audit Fees | | 40,000 | 35,000 | | (d) Depreciation | 7 | 12,600,416 | 14,076,492 | | TOTAL EXPENSES (II) | | 140,870,825 | 89,767,315 | | V. NET SURPLUS (I-II) | | 40,314,097 | 78,832,153 | | VI. APPROPRIATION TO/FROM FUNDS/RESERVES | | | | | (a) Transfer to Development Reserve Fund | | 93,100,000 | 119,800,000 | | (b) Transfer From General Reserve Fund | | 49,702,422 | 48,773,221 | | (c) Transfer To/(From) General Reserve Fund | | -3,083,481 | 7,805,374 | +--------------------------------------------------+---------+-------------+-------------+ CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2023 (Amt. in Rs.): A. Cash Flow From Operating Activity Net Profit before tax: 40,314,097 / 78,832,153 (31-03-23 / 31-03-22) Add: Adjustment for Depreciation: 12,600,416 / 14,076,492 Operating profit before working capital changes: 12,600,416 / 14,076,492 [figures as printed in source] NOTES TO ACCOUNTS AND SIGNIFICANT ACCOUNTING POLICIES (representative extract; the full notes span numerous multi-page schedules — Note 2 Capital & Reserves; Note 3 Prize and Scholarship Funds, listing dozens of individually named endowment/prize/scholarship funds each with a balance-brought-forward, additions (interest), deductions (prizes/scholarships paid), and balance-carried-forward for the year; Note 4 Earmarked Endowment Funds, similarly structured with numerous individually named funds; Note 5 Other Investments; Note 6 Current Liabilities and Other Liabilities; Note 7 Fixed Assets schedule (Gross Block, Depreciation, Net Block by asset category); Note 9 Cash and Bank Balances; further notes disclosing interest income on fixed deposits, dividend income, and a detailed line-item breakdown of 'Expenses of Institute' (staff costs, examination expenses, seminar/GCA expenses, travelling, printing and stationery, rent, professional fees, etc.); and notes on employee benefit obligations (gratuity), including actuarial assumptions and allocation methodology). These schedules are extensive multi-page numerical tables; the summary above captures the top-level financial statement totals and structure rather than every individual line item. The document (154 pages total) ends with the standard footer: "Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054."