The Insurance and Pension Fund Audit Training Course is a professional education program focusing on developing advanced auditing knowledge and skills directly applicable to insurance companies and pension funds. With insurance companies and pension funds having complex regulatory frameworks, long-term liabilities, actuarial assumptions, and risk-based capital requirements; their audit concerns are very specialized. This program includes intensive coursework on the operations, financial statement structure, governance models, and audit methods of insurance companies and pension funds that comply with international standards and best practices.
The Imperial Corporate Training Institute delivers this financial audit training course by focusing on practical audit issues that auditors will encounter, such as: premium recognition; claims ascertainments; reinsurance agreements; actuarial values; pension obligations; and investment portfolios. The student will learn how to plan, execute and report audits based on a high degree of professional judgment, accuracy and compliance. This course also provides a balance between theoretical concepts and their practical applications, allowing auditors to effectively evaluate financial statements, internal control systems and risk management programs in the context of insurance companies and pension funds.
Objectives
By the end of the Insurance and Pension Fund Audit Training Course, participants will be able to:
- Learn how to review the structure of an insurance company and its financial reporting requirements and methods as required by regulation, as well as a pension fund.
- Leverage the International Standards of Auditing for your audits of both an insurance company and a pension fund.
- Evaluate an insurance company’s premium income and claims reserve methodology, and its reinsurance transaction methodology.
- Evaluate an insurance/pension company’s assumptions and methodologies in calculating its estimated value.
- Inspect a pension fund’s contributions, benefits, and long-term obligations.
- Review an insurance/pension company’s portfolio of investments estimated value methodology.
- Understand the rules and regulations of the governing body for an insurance company and a pension fund.
- Evaluate an insurance company and pension fund’s internal controls, governance structure, and risk management systems.
- Recognize and address the audit risks of insurance and pension institutions.
- Write a concise, compliant and professional audit report.
Target Audience
This course is suitable for:
- Internal and external auditors involved in financial audits
- Audit managers and senior audit professionals
- Risk and compliance officers in insurance and pension fund organisations
- Finance managers and financial controllers
- Accountants working in insurance companies or pension funds
- Regulatory and supervisory professionals
- Professionals preparing for advanced roles in financial audit and assurance
- Consultants specialising in insurance, pensions, and financial services