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Internal Auditing in the Insurance Industry - In-Person

Internal Auditing in the Insurance Industry - In-Person

The insurance industry auditor needs to develop their skills to add value to the Internal Audit Department. This insurance focused 16 hour CPE in-person event helps the experienced internal auditor to understand the underlying concepts and principles that drive the practice of internal auditing in the insurance industry.


Attendees will review the concepts that are behind audit planning, performance, reporting, and follow-up. It is ideal for auditors who are newcomer to the insurance industry.


The insurance industry auditor must have tools in the following areas:

  • Understanding statutory accounting and the underlying insurance regulations

  • Effective communication of internal audit findings

  • Risk-based internal audit planning and execution

  • Advanced audit fieldwork and interviewing methodologies

  • Audit issue and audit fieldwork workpaper quality and review

  • Manage corporate cultural change


Each attendee will receive 16 Auditing CPE Event Hours (YB). A certificate of completion will be provided.

  • 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


    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.

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