Methodology for evaluating the effectiveness of internal control and audit in an insurance organization

Task. The article discusses modern approaches to the methodology for evaluating the effectiveness of the internal control and audit system, taking into account the specifics of the insurance organization and world practice. The article is devoted to the study of the stages and the algorithm for assessing the effectiveness of the internal control and audit system in insurance companies. The procedure for evaluating the effectiveness of the internal control system in an insurance organization is presented. Based on the research, the author proposed a block-modular scheme for auditing the effectiveness of the internal control system in an insurance organization. Model. Based on the studies, an algorithm for assessing the effectiveness of the internal control system in insurance companies was compiled and the importance of assessing the level of effectiveness of ICS and audit was emphasized. Summary. The effectiveness of the internal control system should directly depend on the construction of the most acceptable methodology for its assessment. The presence in the insurance organization of an effective system of internal control and audit is a sign of a well-organized managerial apparatus, a target for attracting investors and insurers. Originality. The result of the study was the separation from the total number of methods and methodologies for assessing the effectiveness of ICS, to develop our own methodology specifically for insurance activities. Concrete steps are proposed for evaluating the effectiveness of internal control in insurance companies.

internal control, insurance companies, audit planning, assessment algorithm, block-modular audit scheme, audit methodology