Title

RISK BASED AUDIT FOR CONVENTIONAL INSURERS & TAKAFUL OPERATORS

Date

27 – 29 February, 2012

Duration

3 Days

Level  

Intermediate / Advance

Time

9.00 am to 5.00 pm

Venue

Seri Pacific Hotel Kuala Lumpur
Jalan Putra
50746 Kuala Lumpur,
Malaysia

Tel (603) 4042 5555
Fax (603) 4041 7236
E-mail: resv@seripacific.com
http://www.seripacifichotel.com

Trainer

1. Ms. Vijayam Nadarajah
    CA (M), FCPA (Aust), CFIIA (M), B.Econs (Aust), MBA (Aust) LLB (London)

About Programme

Internal Auditors and risk managers report independently on assurance of the overall governance of the business. Internal auditors and risk managers provide combined assurance to Audit Committee, Risk Committee and Board that internal controls and risks are managed within tolerance levels. The audit and risk reports should distinguish risks types and highlight exposures as well as provide Board material information for high level actions and decision making. The professional internal audit practices, ethical conduct, sound knowledge of business, controls, processes and other essential skills are required to report effectively on risk management and risk based audits. This is a special program tailored for insurance companies to cover professional standards in internal auditing from audit planning, constructing of audit objectives and programs, fieldwork, managing audit stakeholder meetings and reporting, and specialized audits of insurance businesses, rules and guidelines and audit types. This risk based audit program is comprehensive and updated with the latest stance in professional standards and internal auditing to benefit internal auditors, risk and compliance personnel. This program is custom made to provide skill sets for enhanced assurance on governance for insurance companies and capital requirements under the Risk Based Capital Framework.

Key Learning Outcomes

• Apply IPPF 2011 to all audits, A to Z in internal auditing
• Understand specific duties to Audit and Risk Committees, combined assurance roles, reporting lines and relationships
• Get to know the various risks in insurance business, audit types and tests
• Understand the insurance business units and audit with risk priority, and
• Report on significant risk issues

Key Course Contents

Module 1 – INTERNAL AUDIT TOOLS AND TECHNIQUES

1.1 Managing audits and risk assignments for maximum results:

• Preparing for an audit/inspection/review/follow up assignment
• Compliance, substantive, management and investigative audits tests and requirements
• Conducting audit, compliance and risk field work
• Engaging in exit interviews and discussions
• Reporting

1.2 International Professional Practice Framework (IPPF) for Internal Auditors 2011

Module 2 – RISK ANALYSIS

2.1 Insurance Risks Types

• Finance
• Underwriting/ Bancassurance / Sales & Marketing
• Claims
• Reinsurance
• Investment
• Information Technology
• Others

2.2 Building Audit Objectives, Program, Scope, Sample and Fieldwork

2.3 GPI/BNM Guidelines on Insurance Issues

Module 3 – RBC FRAMEWORK AND GOVERNANCE

3.1 Risk and Capital Requirements for Insurance Companies

3.2 Stress Tests
This module gives internal auditors an overview of Risk Based Capital Framework and how risks impacts capital, stressing risk scenarios and assessing future capital requirements

Module 4 – EFFECTIVE REPORTING

4.1 Reporting to Board Committees

4.2 Overview of Report Writing

Module 5 – CASE STUDIES

5.1 Case Studies on Insurance Companies
Case studies are based on real insurance cases. In these case studies you would also learn how insurers failed in Malaysia and abroad due to poor audits and risk management

Who Should Attend

• Internal auditors at all levels
• Compliance Officers and Managers
• Risk Officers and Managers

Course Fee Per Person

Fees Category

LOCAL

INTERNATIONAL

Single Registration

RM 1960

USD 900

Group Registration

20% Discount will be given to the fourth and subsequent registration