Auditing Insurance Brokers (ROI)

Presenter: Brendan Howard, Mercia Ireland

Audits of insurance brokers have always been identified as higher risk assignments by practitioners and professional accountancy bodies. The accounting systems used can be difficult to follow, and auditing issues can be consequently confusing. In addition, there are reporting responsibilities to the Central Bank to be complied with, as well as capital adequacy requirements. Many auditors are confused by these reporting responsibilities, and others are completely unaware of them. In either situation, the auditor is exposed to regulatory sanction and fines.

Content

The course will make detailed reference to:

• Key features of CBI Handbooks & Codes
• Engagement letters and how they should now address the reporting responsibilities above
• Unincorporated insurance brokers
• Audit problem areas
• Capital Adequacy levels & Goodwill
• Auditing client premia, and
• Reporting requirements

(ROI) courses are for sale to accountants in the Republic of Ireland.