Corporate Governance

Sarbanes-Oxley
The need for organizations to consider and evaluate their internal controls is not limited to publicly owned companies affected by Sarbanes-Oxley. We offer training seminars in the COSO Internal Control Framework to ensure management and employees obtain the necessary understanding of the legislation and the appropriate evaluation procedures.

Our professionals, who have in-depth knowledge of the risks and controls within the insurance industry, can document your organization’s controls over specific insurance processes such as underwriting/premiums, claims, reinsurance, loss reserves, and financial reporting. We also review the controls and perform a gap analysis to the COSO Framework to ensure that insurance specific risks and controls have been identified and addressed. We develop and execute testing plans to verify that controls are operating effectively and later evaluate deficiencies and provide recommendations for implementing remediation plans.

Quality Assessment Reviews (QAR)
QAR evaluates the effectiveness of an organizations’ internal audit department. This assessment is conducted to ensure the internal audit activity, charter, policies and procedures are in compliance with the Institute of Internal Auditors (IIA’s) Standards and the Code of Ethics. We obtain an understanding of the role of internal audit, expressed by the board and executive management, to determine whether the audit activity adds value and improves the organization’s operations. After evaluating the tools and techniques employed by the internal audit department we provide recommendations for areas of quality improvement for the internal audit department.