Property Insurance Internal Control and Audit

Author: Zhang Zhongliang
Publisher:
Publish Date: 2004-01-01
Features: The book briefly introduces relevant knowledge of auditing and the procedures and methods of property insurance auditing. Following the work procedures for handling insurance business, it categorizes insurance business into the underwriting and collection cycle, the claims and payment cycle, and the financing and investment cycle. It elaborates in detail on the internal controls, potential issues, and auditing methods for each cycle. Additionally, it explains the auditing methods for financial statements, financial statement items, insurance intermediary business, solvency margin, and regulatory indicators. Implementing solvency supervision should be based on data authenticity, as false financial statements and data distort solvency margins and regulatory indicators. Based on years of professional experience and insurance supervision experience, the author summarizes and explores the internal control construction of property insurance as well as the auditing methods for property insurance business and finance. The book draws on the auditing methods of certified public accountants and closely integrates with insurance business, proposing auditing techniques and methods to address current violations and irregularities in the property insurance market, such as the creation of false financial statements and the provision of false data. It serves as a reference for internal audit departments of insurance companies, insurance regulatory authorities, government audit departments, and accounting firms to conduct auditing work. It facilitates the management and supervision of the insurance industry by regulatory bodies and the public, enhances the authenticity of financial and business data in property insurance, and creates favorable conditions and environments for implementing solvency supervision.