Features of Internal Control of Insurance Companies
https://doi.org/10.26794/2408-9303-2019-6-3-84-90
Abstract
Current situation of the economy for the insurance business is characterized not only by a high level of income, but also by a high level of competition in the industry. The article defines the feasibility of developing and implementing an internal control system for modern insurance companies. Internal control of the insurance company is related to internal audit and insurance management. These concepts at the current stage of development of ICS insurance companies are not clearly separated. The paper considers the features of the regulatory and legal regulation of the internal control system, analyzes the main provisions of the Concept of the internal control system of insurance companies. The author defines the algorithm of internal control system formation, features and requirements to the system in insurance companies. Particular attention should be paid to control actions that determine the specifics of business processes when creating insurance company ICS. Due to well-chosen control actions, it is possible to increase the efficiency of both the individual business process and the insurance company as a whole.
About the Author
A. О. Fokina
Financial University
Russian Federation
Russian Federation
Anastasiya O. Fokina — Master student of the Department of Accounting, Analysis and Auditing
Moscow
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Review
For citations:
Fokina A.О. Features of Internal Control of Insurance Companies. Accounting. Analysis. Auditing. 2019;6(3):84-90. (In Russ.) https://doi.org/10.26794/2408-9303-2019-6-3-84-90
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