The Chartered Insurance coverage Institute (CII), in affiliation
with PKF Littlejohn, has issued the Society of Insurance coverage Broking’s (SIB)
understanding of the regulator’s guidelines and present stance in relation to
inner audit good apply.
Outlining the significance of efficient governance in threat
administration and accountable oversight of inner controls, the information seeks to
clarify the three traces of defence mannequin and makes a collection of suggestions
on areas of enchancment.
Jessica Wills, companion at PKF Littlejohn, mentioned the information
summarises what these capabilities ought to appear to be inside a 3 traces of
defence mannequin with some examples of fine apply.
“We hope this abstract offers some helpful steering and
demonstrates the advantages that threat administration and inner audit can deliver to
your agency,” she added.
Liz Foster, non-executive director of the Society of
Insurance coverage Broking, mentioned the information will function a reminder to brokers to evaluation
their strategy to inner audit and supply a mannequin in opposition to which to map their
present inner controls.
The Audit Good Follow Information will be accessed right here.
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