SYSTEM OF INTERNAL CONTROL AND AUDIT IN INSURANCE ORGANIZATIONS: PROBLEMS AND DEVELOPMENT PROSPECTS
The article studies the issues of organization of internal control systems as a form of realization of the risk function of insurance. The statistical data on the insurance services market are analyzed and the directions of the development of the internal control and audit system of insurance organi...
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| Autores principales: | , |
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| Formato: | article |
| Lenguaje: | EN RU |
| Publicado: |
Science and Innovation Center Publishing House
2019
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| Materias: | |
| Acceso en línea: | https://doaj.org/article/99ed092711464d5090848d27020d9c46 |
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| Sumario: | The article studies the issues of organization of internal control systems as a form of realization of the risk function of insurance. The statistical data on the insurance services market are analyzed and the directions of the development of the internal control and audit system of insurance organizations are substantiated, its relationship with the state financial control of the financial stability of the subjects of the insurance business. We consider an automated system of internal financial control and audit, built on the principles of a risk-oriented approach in accordance with the standards of Solvency II, as a mechanism that facilitates the achievement of a local compromise in the relations of participants in insurance economic relations. In the course of the study, it was concluded that insurance companies need to implement an effective internal control system that would allow the insurance supervisory authorities to carry out a preventive identification of risks of loss of financial stability and solvency of insurance supervisors.
Purpose – to develop a model of the system of internal control and audit of insurance companies in the system of state insurance supervision in accordance with the risk-based approach.
Methodology: the article is prepared on the basis of Desk research, information is collected through qualitative methods of data collection, namely comparative analysis, factor analysis, formalized content analysis.
Results: a model of the internal control and audit system based on the principles of risk-based supervision for the early diagnosis of risks of insurance companies.
The scientific novelty of the research is the development of recommendations for improving the principles and methods of internal control and audit of the insurance company in the system of state insurance supervision, based on the principles of risk-oriented for the purpose of preventive risk diagnosis of the insurer.
Practical implications it is advisable to apply the results of the subjects of insurance supervision, in particular insurance companies and insurance supervision bodies. |
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