Internal Auditing in the Insurance Industry - In-Person
Enhance Your Internal Auditing Skills in the Insurance Sector
The Internal Auditing in the Insurance Industry – In-Person CPE Training Event offers a deep-dive into essential practices, principles, and standards tailored for internal audit professionals in the insurance industry. Designed for auditors looking to elevate their expertise, this 16-hour seminar will enhance your knowledge of statutory accounting, risk management, and industry regulations while providing CPE credits to advance your professional development in internal audit in insurance companies.
Why Attend?
Earn 16 CPE Credits - Strengthen your professional credentials while expanding your expertise in internal audit in insurance companies.
Understand Industry-Specific Challenges - Gain valuable insights into statutory accounting, compliance issues, and operational complexities unique to auditing in insurance companies.
Develop Core Skills - Master planning, conducting, and reporting internal audits tailored for insurance organizations internal audit professionals.
Build Professional Communication - Enhance your ability to present findings to stakeholders effectively and professionally in auditing in insurance companies.
What You’ll Learn
This in-depth course provides practical tools and actionable knowledge to optimize auditing performance for insurance firms. By attending, participants will learn to:
Master Statutory Accounting Principles - Develop an advanced understanding of insurance accounting and financial reporting standards that apply to audits in insurance companies.
Understand Insurance Operations - Explore underwriting, claims processes, and actuarial concepts to improve the auditors focus on audit issues in insurance companies.
Navigate Compliance and Regulations - Learn the intricacies of industry regulations, including NAIC Model Laws, to support effective model audit rule programs.
Conduct Risk Assessments - Identify and tackle risks while designing internal controls to enhance operational efficiency.
Refine Audit Execution - Plan and perform audits with precision, adhering to recognized professional auditing standards.
Communicate Effectively - Present audit findings clearly and constructively to management, boards, and stakeholders.
Core Course Benefits
Industry-Focused Content - Tailored specifically for internal auditors in the insurance sector, focusing on their unique challenges and opportunities.
Practical Training - Engage in interactive sessions covering real-life case studies, advanced methodologies, and hands-on exercises for audits in insurance companies.
Updated Regulatory Knowledge - Stay ahead of evolving laws and standards impacting the insurance industry’s internal controls within model audit rule programs.
Tools for Success - Receive expert guidance on advanced audit fieldwork, risk assessment, and communication strategies.
Key Agenda Topics
Introduction to Internal Auditing in the Insurance Industry - Overview of auditing principles and their application in audits in insurance companies.
Statutory Accounting and Financial Reporting - Learn the basics of statutory accounting principles and their importance in regulatory compliance in the insurance industry.
Insurance Operations - Examine insurance-specific processes, including claims and underwriting, to spot risks and opportunities.
Compliance and Regulatory Updates - Delve into industry laws such as NAIC Model Laws and reporting standards to ensure compliance with these model laws.
Auditing Standards and Methods - Explore the IPPF, COSO framework, and other key auditing practices to conduct effective evaluations in audits in insurance companies.
Risk Assessment and Internal Controls - Gain a solid foundation in identifying, assessing, and mitigating risks through reliable controls.
Audit Planning and Execution - Plan comprehensive audits, perform fieldwork, and deliver actionable findings to stakeholders.
Communication Excellence - Enhance your ability to communicate findings with clarity and professionalism.
Continuous Improvement - Wrap up with actionable insights to continuously elevate your auditing practice in the insurance sector.
Event Details
- Format: Live, in-person training featuring hands-on interaction.
- Schedule:
- Day 1 (Wednesday): 9 a.m. – 5 p.m.
- Day 2 (Thursday): 9 a.m. – 5 p.m.
- CPE Credits: Earn 16 NASBA-approved hours.
- Cost: $1,440 per attendee.
- Location: Available across various cities with private sessions offered for groups of two or more.
- Prerequisites: Recommended knowledge of Internal Audit 101/201 or equivalent foundational experience.
Who Should Attend?
This comprehensive training is ideal for professionals in internal auditing roles or related fields within the insurance industry, including but not limited to:
- Internal Auditors looking to specialize in insurance frameworks.
- Compliance Officers focused on aligning operations with regulatory demands.
- Finance Professionals aiming to strengthen their knowledge of statutory accounting.
- Risk Managers working to implement and manage internal controls.
Why Internal Auditing is Key
Internal auditors play a pivotal role in safeguarding the integrity, compliance, and risk management of insurance firms. With this tailored CPE training, you’ll gain the skills and knowledge necessary to deliver insightful audits that foster compliance, mitigate risk, and drive organizational improvements.
Register Now
Enhance your internal auditing capabilities and elevate your expertise in the insurance industry. Join this cutting-edge training session to unlock new professional opportunities while contributing to operational excellence in your organization.
Register today for the Internal Auditing in the Insurance Industry – In-Person CPE Training Event and pave the way for success in a dynamic and regulated industry!
Details on Event Presentation
The sessions will be as follows:
Wednesday – 9:00 a.m. to 5:00 p.m.
Thursday - 9:00 a.m. to 5:00 p.m.
Offered in-person in various cities during 2023 on Wednesday-Thursday.
We can schedule private courses on internal audit on your timetable for two or more attendees.
We can schedule private events on your timetable for three 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
Introductions
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: 16, 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.