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P27
– FINANCIAL AUDIT AND CONTROL (NON-LIFE) Background Consequent
upon the liberalization, competitive environment and installation of
Insurance Regulatory and Development Authority, there is a great need to
strengthen internal control systems, various types of audit and reporting
mechanism to ensure financial discipline and healthy solvency margins. Objectives • To
cover comprehensively the role of audit and control functions and also
their responsibility towards various stakeholders in General Insurance
business. •
To facilitate interaction between staff in the audit and operations
departments. Contents •
Legal framework of financial aspects of corporate and operations matters -
Companies Act, Insurance Act,
Income Tax Act, Capital Market and Forex Laws •
Internal Audit - scope, coverage, appraisal/ evaluation of systems -
methods and procedures in
underwriting/reinsurance/claims/investments/solvency and other financial
areas •
Statutory Audit - role clarity - main and supplementary audit (MAOCARO
type of audit) - long and short form of reporting •
Complementary responsibilities of Internal Audit and Vigilance Dept. •
Regulators’ expectations from the entire audit mechanism so as to help
them in on-site and off-site supervision •
Computer Audit Participants’ Profile Indian:
Middle / Senior Level Executives in General Insurance Companies in
Internal Audit, Finance, Investment, Accounts and Operations Department Overseas:
Middle / Senior Level Executives in Audit, Finance, Investment, Accounts
and Operations Departments of General Insurance Companies. Duration:
3
Days |
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