Unit:
Specialty Internal AuditLibrary of the Faculty of Economics and of the Faculty of Business Administration
Author:
Palaiothodoros Nikolaos
Supervisors info:
Παναγιώτης Αλεξάκης, Καθηγητής, Τμήμα Οικονομικών Επιστημών, Σχολή Οικονομικών και Πολιτικών Επιστημών,ΕΚΠΑ
Δημήτριος Καινούργιος, Αναπληρωτής Καθηγητής, Τμήμα Οικονομικών Επιστημών, Σχολή Οικονομικών και Πολιτικών Επιστημών, ΕΚΠΑ
Original Title:
Εσωτερικός Έλεγχος ως βασική λειτουργία Ασφαλιστικής Επιχείρησης : Εποπτική Προσέγγιση
Translated title:
Internal Audit as a key function for Insurance firms : A Supervisory Approach
Summary:
This study aims to provide a comprehensive analysis of the expectations of Insurance firms, stakeholders and Supervisory authorities with regards to the Internal Audit function, as a key function for Insurance firms. This analysis was performed by utilizing the available regulatory framework, the supervisor guidelines, research already performed on the topic of internal audit maturity and professional experience gained on the industry. Through this study it was achieved to group together regulatory framework, supervisor expectations and actual challenges of internal audit function in the insurance industry.
A short overview of the Internal Audit profession has been provided and extends to the current requirements as set by the regulators, businesses and stakeholders, providing empirical knowledge from a supervisory perspective.
Governance structure, independence, objectivity, fit and proper have been analysed and provided the necessary insight of the current expectation status.
Internal Audit tasks and supervisory requirements have been defined, in a summarized format, however it provides the necessary understanding of what internal auditors are expected to do and the methodology of providing the necessary documentation to the Board and to Supervisory Authorities.
Main subject category:
Social, Political and Economic sciences
Keywords:
Internal Audit, Insurance Firms, Solvency
