Insurance Auditor Question:
Tell me why internal audit is necessary?
Answer:
Internal Audit is necessary to
☛ Enhance the size and complexity of businesses
☛ Increase the compliance requirements
☛ Focus on risk management and internal controls to manage them
☛ Unconventional business models
☛ Stringent norms implemented by regulators to protect investors
☛ Intensive use of information technology
☛ Increasingly competitive environment
☛ Enhance the size and complexity of businesses
☛ Increase the compliance requirements
☛ Focus on risk management and internal controls to manage them
☛ Unconventional business models
☛ Stringent norms implemented by regulators to protect investors
☛ Intensive use of information technology
☛ Increasingly competitive environment
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