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Internal Auditing in the Insurance Industry

Internal Auditing in the Insurance Industry

Enhancing Internal Auditing in the Insurance Industry


Join us for a comprehensive 12-hour CPE virtual event specifically tailored to empower insurance industry auditors and elevate their skill set.


This specialized program is designed to equip with a deep understanding of the fundamental concepts and principles that drive the practice of internal auditing in the insurance sector.


During this event, attendees will delve into the key elements underlying audit planning, performance, reporting, and follow-up in the insurance industry. It is particularly beneficial for auditors who are new to this dynamic sector and experienced auditors that have not received formal training or require a “refresher”.


Critical tools and techniques will be explored in the following areas to bolster the capabilities of insurance industry auditors:

  • Comprehensive understanding of statutory accounting and the underlying insurance regulations.
  • Effective communication of internal audit findings for maximum impact.
  • Risk-based internal audit planning and execution methodologies.
  • Advanced audit fieldwork strategies and interviewing techniques.
  • Enhancing audit issue identification and ensuring superior audit fieldwork workpaper quality.
  • Navigating corporate cultural change to facilitate successful audits.


By participating in this event, each attendee will earn 12 CPE Hours in auditiing (YB) and receive a certificate of completion to validate their professional development.


Don't miss this opportunity to enhance your auditing skills and make a meaningful impact within the insurance industry, stakeholders and regulators. Register today to secure your spot in this invaluable virtual event.

  • Details on Event Presentation

    Offered on Wednesday-Thursday once every six weeks in two six hour sessions for 12 CPE credits.

    The sessions will run from 9:00 a.m. to 3:00 p.m. Central Time Zone. There will be a lunch break from 12:00 noon to 12:30 p.m. each day.

    We can schedule private courses on internal audit on your timetable for two or more attendees.

  • CPE Event Highlights

    Internal auditors at insurance companies need to build a strong background in accounting, finance, and insurance operations. 

    Their work is focused on risk management, compliance and regulatory requirements, and internal control systems.

    CCS is your special source for internal audit course and IT audit training both in-person and via webinars.

  • Learning Objectives

    Build a comprehensive understanding the insurance industry and the role of internal audit within it.

    Understand an overview the purpose and scope of internal auditing in insurance companies.

    Expand the knowledge of statutory accounting and insurance finance principles.

    Review the functional areas with an insurance entities operations.

    Overview the current compliance and regulatory issues

    Expand the attendee's knowledge of risk assessment and internal control systems within the insurance industry

    Enhance the use of effective communication skills and the  professionalism of the attendee.

  • Key Issues on the Agenda


    Section 1: Introduction to the insurance industry and the role of internal auditing within insurance companies.

    Section 2: Accounting and finance: Basic statuturoy accounting principles and financial statement presentation. Review regulatory reporting to the Insurance Commissioner.

    Section 3: Insurance operations: Understanding of insurance products, underwriting, and claims processes, as well as risk management and actuarial concepts.

    Section 4: Compliance and regulations: Knowledge of relevant NAIC Model Laws and regulations that govern the insurance industry.

    Section 5: Auditing standards and methods: Overview of professional standards for internal auditing, including the International Professional Practice Framework (IPPF) and the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework.

    Section 6: Risk assessment and internal control systems: Understanding of how to identify, evaluate, and mitigate risks within an insurance company, and how to design and implement effective internal control systems.

    Section 7: Audit planning and execution: How to plan and conduct an internal audit, including setting audit objectives, developing audit programs, and reporting on findings and recommendations.

    Section 8: Communication and professionalism: How to effectively communicate with management and other stakeholders, as well as best practices for maintaining a professional demeanor and building relationships.

    Section 9: Summary and Wrap-Up
    . Recap of Internal Auditing in the Insurance Industry
    . Your Keys to Success!

  • NASBA Program Disclosure

    Program Level of Understanding: Intermediate

    Prerequisites: Internal Audit 101 and/or Internal Audit 201

    Advance Preparation: None

    Delivery Format: On-site Training (Group-Live); Seminar (Group-Live)

    NASBA Field(s) of Study: Auditing

    CPE Credits: 12, based on 50 minutes of instruction per hour

  • Summary of the Subject Matter

    This CPE seminar covers the essentials of internal auditing in the insurance industry. It includes the role of internal audit in ensuring compliance, identifying and mitigating risk, and improving operational efficiencies. Attendees will learn how to develop and implement an effective internal audit program, which includes risk assessment, audit planning, execution, and reporting. The program also covers auditing techniques, such as sampling and testing, and the use of technology to improve audit effectiveness. Other topics include fraud detection and prevention, as well as ethical considerations for internal auditing. The program is designed for internal auditors, compliance professionals, and others in the insurance industry responsible for internal controls and risk management.

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