Effective Compliance Audit Process For Insurers

Public Short Course

HRD Training Prog No10001364651
Date & Time14 – 15 April 2025
Registration Deadline9 April 2025
Learning Format Classroom

Objective

The “Effective Compliance Audit Process for Insurers” is a two-day intensive program aimed at equipping insurance professionals with the skills to conduct comprehensive compliance audits. Participants will gain insights into compliance philosophy, audit methodologies, and best practices for identifying and addressing compliance issues. Through a mix of theoretical principles and practical applications, this course ensures that attendees are prepared to manage and mitigate compliance risks effectively.
At the end of the course, participant will be able to:

  • Describe the underlying philosophy and rationale behind compliance function
  • Implement compliance audit methodology to access financial and operational compliance
  • Assess potential compliance issues and their consequences
  • Recommend remedial actions

Effective Compliance Audit Process For Insurers

For Inquiries

Sales

+603 2712 8882

Programme Structure

Day 1:

  • Understanding compliance through the IAIS Insurance Core Principles and BNM Policy Document
    • Principle Statements
    • Standards
    • Guidance
  • Insurance failures cases due to Non – Compliance
    • Malaysian Insurance Failures
    • General Insurance Failures
    • Life Insurance Failures
    • Mutual Insurance Failures
    • Offshore Insurance Failures
  • Compliance Audit Fundamentals
    • Planning a compliance audit programme
    • Audit Conduct
    • Audit reporting
    • Audit findings responses
    • Corrective Action & Audit follow up
  • Operational Compliance Audit
    • Suitability of Persons
    • Corporate Governance
    • Risk Management and Internal Controls
    • Preventive and Corrective Measure

Day 2

  • Financial Compliance Audit
    • Capital Adequacy
    • Reinsurance
    • Valuation
    • Investment
  • Market Conduct Compliance Audit
    • Intermediaries
    • Conduct of Business
    • Public Disclosure
  • Forensic Audit on Compliance
    • Essential attributes and knowledge of forensic auditors
    • Constructing a blueprint for insurance audit
    • Forensic auditing tools for insurance operations
  • Fraud Detection through Compliance Audit
    • Underwriting frauds
    • Claims frauds
    • Money laundering frauds

Dates

14/04/2025

Classroom

Fees

Aii Member Early Bird

Register before 20 March 2025

RM 1080 / USD 250

Non-Member Early Bird

Register before 20 March 2025

RM 1180 / USD 272

Aii Member Normal Fee

Single Seat: RM 1180 / USD 272

Group of 3: RM 1030 / USD 240

Non-Member Fee

Single Seat: RM 1280 / USD 300

Group of 3: RM 1080 / USD 250

*Fees inclusive of 8% SST (Malaysia Sales and Service Tax)