The National Association of Insurance Commissioners’ (NAIC) risk focused examination process includes assessing the internal audit function and using this process to reduce duplication of examination efforts. Internal auditors have an important role in their organization’s examination and should ensure their department and audit work assessment by the examiners is satisfactory for reliance. In addition, internal audit can act as liaisons to the examination process, provide input on enterprise risk management risk mitigation strategies and help facilitate key discussions on risk and internal controls with the state regulators. This on-demand webinar explores how to maximize the value that internal audit can provide and includes feedback from an audit director during a recently coordinated risk focused examination.
“30.8 percent of respondents answered “Fully integrated, involved in interviews, requests, meetings, etc.” to a poll question during the Internal audit: Maximizing your role in the NAIC state examination process on Dec. 13, 2017.”