top of page
Managing NAIC Model Audit Rule Programs - In-Person

Managing NAIC Model Audit Rule Programs - In-Person

This in-person CPE course is focused on how to address managing the NAIC Model Audit Rule (MAR) defined annual internal controls over financial reporting (ICFR) assessment. It focuses on using the COSO 2013 and COBIT frameworks.

 

This 16 CPE in-person event is designed for compliance managers, controllers, CFOs and others who have the responsibility for managing the insurance organization's annual internal control framework. 

 

Learn how to comply using a cost effective approach to address your compliance needs under the NAIC Model Audit Rule (MAR) requirements. These annual requirements concern the annual filings with the Insurance Commissioners. Each attendee will have access to a set of 55 documents that were used to create the workshop.

 

This course is designed for professionals experienced in working with internal controls and ERM programs.

 

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

  • Details on Event Presentation

    The sessions will be as follows:

    Thursday – 9:00 a.m. to 5:00 p.m.

    Friday - 9:00 a.m. to 4:00 p.m.

    Offered in-person in various cities.

    We can schedule private events on your timetable for three or more attendees.

  • CPE Event Highlights

    Managing a Model Audit Rule compliance program contains a comprehensive set of tasks and skills. This CPE event covers for the attendees concerning the annual compliance requirements:

    • Establishing clear policies and procedures for internal control over financial reporting that align with the COSO 2013 framework.
    • Identifying and assessing the risks to internal control over financial reporting.
    • Designing and implementing controls to mitigate identified risks.
    • Monitoring the effectiveness of controls on an ongoing basis.
    • Conducting an annual assessment of the internal control over financial reporting using the COSO 2013 framework to determine if it is operating effectively.
    • Communicating the results of the assessment to management and the board of directors.
    • Taking corrective action, as necessary, to address any deficiencies identified during the assessment.
  • Learning Objectives

    Attendees will:

    • Understand the purpose and key elements of the NAIC Model Audit Rule (MAR) program, and how it relates to the COSO framework.
    • Learn about common risks and issues that can be identified through internal audits, and best practices for addressing them.
    • Gain knowledge of the benefits of following the MAR guidelines, including improved internal controls and risk management practices.
    • Understand the requirements and expectations for planning, conducting, and reporting internal audits in accordance with the MAR program.
    • Learn how to apply the MAR program to their own insurance company and identify areas for improvement in their internal audit process.
    • Understand the importance of continuous learning and staying current with changes and updates to the MAR program.
  • Key Issues on the Agenda

    • Section 1: Introduction and Background
    • Section 2: Introduction to the Model Audit Rule (MAR) program requirements
    • Section 3: Overview of the COSO framework and how it relates to the MAR program
    • Section 4: Discussion of key elements of the MAR program, including planning, conduct, and reporting
    • Section 5: Examples of common risks and issues identified within MAR Programs and the best practices for addressing them
    • Section 6: Discussion of the benefits of following the MAR guidelines, including improved internal controls and risk management practices
    • Section 7: Q&A session for attendees to ask specific questions about the MAR program and how it applies to their organization
    • Section 8: Conclusion and next steps for implementing the MAR program in an insurance organization.
  • NASBA Program Disclosure

    Program Level of Understanding: Intermediate to Advanced
    Prerequisites: Participants should come with a knowledge of internal control frameworks.
    Advance Preparation: A number of documents will be provided in advance.
    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 program focuses on the NAIC Model Audit Rule (MAR) program, providing an in-depth understanding of the program's key elements and how it relates to the COSO framework. Attendees will learn about common risks and issues that can be identified through internal audits, best practices for addressing them, and the benefits of following the MAR guidelines. The program covers the requirements and expectations for planning, conducting, and reporting internal audits in accordance with the MAR program. It also has a focus on applying the program to insurance companies. Attendees will also learn about staying current with changes and updates to the MAR program, and how to communicate the importance of internal audit to management and the board.

$1,675.00Price
bottom of page