ITGCs for NAIC Model Audit Rule Programs - In-Person
The ITGCs for NAIC Model Audit Rule Programs – In-Person CPE Training Event offers essential insights into Information Technology General Controls (ITGCs) and their role in ensuring compliance with the NAIC Model Audit Rule. This focused training enables insurance industry professionals to develop robust IT systems and practices that support accurate financial reporting and reliable internal controls. With a practical, regulation-focused approach, this program awards attendees 4 NASBA-approved CPE credits and delivers actionable strategies for designing and implementing ITGC frameworks.
Why Attend?
Earn 4 CPE Credits - Enhance your professional qualifications while gaining valuable expertise in ITGC implementation.
Ensure Compliance with the NAIC Model Audit Rule - Achieve confidence in meeting regulatory requirements for data integrity and financial accuracy.
Strengthen Organizational Defenses - Learn how to implement effective ITGCs that support risk management and audit readiness in the insurance industry.
Enhance IT Operations and Security - Master best practices for efficient IT operations, secure systems, and reliable backup protocols.
What You’ll Learn
This interactive, hands-on training session is designed to provide comprehensive knowledge of ITGCs and their application in aligning with NAIC Model Audit Rule requirements. Learning objectives include:
Understand ITGCs in the Context of the NAIC Model Audit Rule - Gain an understanding of the role of ITGCs in compliance and their importance to financial reporting accuracy.
Implement Access Controls - Develop measures to restrict system access to authorized personnel, including user authentication and password policies.
Master Change Management Processes - Learn how to oversee system changes effectively, from authorization to documentation and testing.
Ensure Data Backup and Recovery - Establish robust data protection controls to prepare for system failures or disasters.
Foster Secure Program Development - Design and maintain software systems using secure coding practices, version control, and thorough testing.
Optimize IT Operations - Enhance system performance through effective monitoring, hardware management, and redundancy strategies.
Focus on IT Security Controls - Develop a defensive posture against unauthorized access with firewalls, intrusion prevention systems, and employee training.
Prepare for Regular Assessments - Adopt tools and procedures for periodic testing and continuous monitoring of ITGCs.
Course Highlights
ITGC Foundations - Learn the fundamentals of ITGCs, including their role in supporting financial reporting and risk management.
Real-World Application - Explore case studies and best practices for implementing ITGC processes across insurance organizations.
Interactive Learning - Participate in sessions covering access control design, change management frameworks, and IT operations security.
Compliance-Centric Curriculum - Align with the NAIC Model Audit Rule by understanding regulatory requirements and how ITGCs play a pivotal role.
Expert Guidance - Receive practical advice and insights from professionals experienced in auditing systems and managing IT frameworks within the insurance sector.
Key Agenda Topics
Introduction to NAIC Model Audit Rule and ITGCs - Overview of the rule’s objectives and the critical role ITGCs play in meeting them.
Types of ITGCs - Deep-dive into core ITGC categories, including Access Controls, Change Management, and IT Security Controls.
Developing ITGC Frameworks - Steps to create and maintain an ITGC program that aligns with industry best practices.
Implementation and Monitoring - Guidance on deploying ITGC measures effectively and ensuring their continuous operation.
Annual Assessments Required by NAIC Model Audit Rule - Learn the necessary elements of annual evaluations and how to prepare.
Addressing IT-Related Audit Findings - Explore strategies for mitigating typical audit deficiencies related to ITGCs.
Aligning ITGCs with Financial Reporting Needs - Ensure systems are prepared to support accurate, timely, and compliant reporting processes.
Next Steps for Compliance Readiness - Practical action plans for immediate impacts and long-term improvements.
Event Details
- Format: Live, in-person seminar with expert-led instructional sessions and interactive components.
- Schedule:
- Friday: 1 p.m. – 4:45 p.m.
- CPE Credits: Earn 4 NASBA-approved hours in Auditing.
- Cost: $420 per attendee.
- Location: Hosted in cities nationwide, with options for private sessions for organizational teams.
- Audience: Insurance professionals in compliance, auditing, IT, and financial reporting roles. No prerequisites required.
Who Should Attend?
This in-person training is ideal for professionals involved in IT risk management and compliance in the insurance industry, including:
- IT Auditors responsible for examining internal systems and ensuring regulatory alignment.
- Insurance Compliance Managers aiming to enhance their knowledge of ITGCs and their regulatory implications.
- Financial Analysts and Accountants engaged in reporting processes requiring IT accuracy and reliability.
- Internal Audit Professionals tasked with assessing and improving IT frameworks.
Why ITGCs Matter in the Insurance Industry
The NAIC Model Audit Rule mandates effective ITGCs to ensure reliable financial reporting and safeguard organizational infrastructure. Effective controls address risks that can lead to data breaches, financial misstatements, and regulatory violations. By attending this training, you’ll gain the tools to design, implement, and monitor ITGCs, helping your organization thrive in a highly regulated industry.
Register Today
Take the first step in fortifying your organization’s IT frameworks while earning CPE credits that boost your professional standing. Learn to implement IT controls that meet compliance requirements, strengthen operational security, and foster trust in your financial reporting processes.
Register now for the ITGCs for NAIC Model Audit Rule Programs – In-Person CPE Training Event and secure your expertise in ITGC implementation for the insurance industry!
Details on Event Presentation
The sessions will be as follows:
Friday – 1:00 p.m. to 4:45 p.m.
Offered in-person in various cities during 2024 on Fridays.
NASBA Program Disclosure
Program Level of Understanding: Basic to Intermediate Prerequisites: None
Advance Preparation: None
Delivery Format: On-site Training (Group-Live); Seminar (Group-Live)
NASBA Field(s) of Study: Auditing
CPE Credits: 4, based on 50 minutes of instruction per hour.CPE Event Highlights
This CPE program is designed to provide participants with the knowledge and skills necessary to implement effective IT General Controls (ITGCs) in the insurance industry, in compliance with the NAIC Model Audit Rule.
The program covers key topics such as access controls, change management, data backup and recovery, program development and maintenance, IT operations, and IT security.
The program also includes case studies and best practices related to the implementation of ITGCs, and guidance on how to prepare for and manage compliance audits related to ITGCs. Participants will gain an understanding of the purpose of the NAIC Model Audit Rule and the importance of ITGCs in achieving its objectives.
By completing this program, participants will be better equipped to ensure the accuracy and integrity of their financial reporting, and to promote sound accounting practices in the insurance industry. The program is suitable for professionals involved in financial reporting and compliance in the insurance industry, including auditors, accountants, and financial analysts.
Learning Objectives
Attendees will:
1. Understand the purpose of the Model Audit Rule (MAR) and the importance of ITGCs in achieving its objectives.
2. Recognize the key provisions of MAR related to the implementation of ITGCs.
3. Identify the different types of ITGCs that need to be implemented to ensure the accuracy and integrity of financial reporting data.
4. Develop a comprehensive ITGC framework that covers key areas such as access controls, change management, data backup and recovery, program development and maintenance, IT operations, and IT security.
5. Establish policies and procedures for the implementation and monitoring of ITGCs.
6. Conduct periodic testing of ITGCs to ensure that they are operating effectively.
7. Assign responsibility for the implementation and monitoring of ITGCs to qualified personnel.
Key Issues on the Agenda
I. Introduction
- Brief overview of NAIC Model Audit Rule
- Importance of ITGCs for insurance companies
- Key objectives of the training presentation
II. Understanding ITGCs in the NAIC Model Audit Rule context
- Define ITGCs
- Access Controls
- Change Management Controls
- Data Backup and Recovery Controls
- Program Development and Maintenance Controls
- IT Operations Controls
- IT Security Controls
III. ITGCs Implementation in the NAIC Model Audit Rule context
- Steps involved in developing an ITGC program
- Resources needed for program implementation
- Common challenges
IV. Annual Assessment Required by NAIC Model Audit Rule
- Purpose of the Annual Assessment
- Key elements in the Assessment
V. Conclusion
- Summary of key points
- Next steps for attendees concerning the NAIC Model Audit Rule
Summary of the Subject Matter
This CPE program focuses on IT general controls for NAIC MAR programs, providing attendees with an in-depth understanding of how to effectively manage IT risks and support internal audit processes. Our NAIC expert believe that quality control in information technology function will be a key risk management topic over the next ten years.
The program covers the fundamentals of ITGCs, including access controls, change management, and the system development life cycle, as well as how they relate to the NAIC Model Audit Rule program. Attendees will learn how to design and implement effective ITGC processes, as well as how to assess their effectiveness through testing and monitoring. The program also covers best practices for integrating IT general controls into the overall NAIC Model Audit Rule program, as well as how to address common IT-related audit findings. The program is designed for IT and internal audit professionals responsible for managing IT risks in insurance companies concerning NAIC Model Audit Rule.
Authoritative Sources
After participating in the CPE event focused on the ITGCs needed in a NAIC Model Audit Rule Program, expanding your knowledge with additional resources from authoritative sources is crucial. These sources provide valuable insights and in-depth content to further enhance your understanding of the scope of the ITGCs that are within the NAIC Model Audit Rule and its implications within the insurance industry:
- National Association of Insurance Commissioners (NAIC)
- The NAIC serves as the authoritative source for information related to the Model Audit Rule, offering comprehensive guidance that delves into the requirements and implications for auditors and insurers. The Financial Condition Examiners Handbook is the NAIC audit manual that controls the NAIC audit processs for the examination of all insurance companies.
- Annual Financial Reporting Model Regulation
- Accessing the annual financial reporting model regulation (NAIC Model Audit Rule) provides a deeper understanding of the regulatory framework and its impact on insurers required to file audited financial reports.
- Financial Condition Examinars Handbook
- The primary purpose of a risk-focused examination is to review and evaluate an insurer’s business processes and controls to assist in assessing and monitoring its current financial condition and prospective solvency. This NAIC audit manual provides the detail guidance for conducting the examination.
- Baker Tilly Insights on the NAIC Model Audit Rule
- Baker Tilly offers valuable insights and best practices related to the NAIC Model Audit Rule, providing recommendations to improve organizational programs in accordance with NAIC audit standards.
By leveraging these authoritative sources, you can continue to enhance your expertise, stay informed about industry best practices, and gain valuable insights into the regulatory landscape of NAIC Model Audit Rule programs.
- National Association of Insurance Commissioners (NAIC)