Insurance Internal Audit Group
The Insurance Internal Audit Group (IIAG) is a unique and dedicated forum for internal auditors, risk practitioners and professionals in the insurance and related businesses in the financial services. The IIAG recognises the challenges facing internal auditors in a heavily regulated environment with rising standards of governance, risk management and compliance. The IIAG is therefore proactive in identifying emerging issues and areas of development that impact the financial services industry, which are reflected in their events and discussions.
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Over 100 organisations are members of the IIAG. They include insurance companies, asset managers, building societies, reinsurers, broker firms, and the main accounting firms. With its wide membership, the IIAG provides a sound platform for networking and sharing best practice. Mini surveys are conducted occasionally by the IIAG for internal benchmarking.
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The IIAG is non-profit making and aims to provide good value for money to its members and others who attend the quarterly seminars and conferences. The success of the IIAG can be attributed to the firm support of its members, volunteer committee members as well as speakers from the industry trade bodies, regulators, professional firms and other experts interested in promoting good governance, compliance and risk management in the industry.
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Attendance at the quarterly seminars has been consistent – averaging 50 over the last 2 years, while attendance at our conferences continue to be attended by over 100 delegates.
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Examples of recent topics at the IIAG events that cover specific areas of audit, risks and regulation are:
- Solvency II and capital adequacy – regulatory framework and its audit
- Integrated risk management and the role of internal audit
- Whistle-blowing, fighting financial crime and investigation including the ABI initiatives and work of the Insurance Fraud Bureau
- MiFID – implementation and assurance
- Auditing corporate responsibility
- Outsourcing - risk management and maintaining control
- Off shore risks and the role of internal audit
- The Actuarial function, risks and audit approach
- Spreadsheet risks and controls
- Investments - audit and risk framework
- Information security, data retention and disclosure
- Operational risk management, quantification and risk appetite
- The World Class internal audit department
The themes covered by our last conferences include “Enriching risk based assurance”, "Maximising Stakeholder Value", "Leading the profession in the next millennium", and "Internal Audit at the cross roads". Each conference considered the continual impact of regulation and rising standards of governance, and the changing risk landscape on internal auditors and related practitioners in the industry.
For more information visit www.iiag.org.uk or contact the IIAG Chair, Vicky Kubitscheck.