Financial Services Ireland

INSURANCE

Internal controls considerations for insurers in a remote close environment

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As a result of Covid-19, businesses and economies around the globe have transitioned to remote working. This increases risk in multiple areas that impact the completeness and reliability of financial data, such as internal controls on financial reporting (ICFR) and other internal control programs that were not originally designed for operation in a remote environment. Coupled with stressed circumstances, this working environment requires more judgment to execute, evidence, certify and test controls to maintain compliance.

Our latest paper considers some of the questions that insurance chief financial officers (CFO) need to consider when supporting their business to manage increasing risks, while also ensuring an effective control environment around financial data. It focuses on helping resilient controls in a remote closing environment including:

  • The key considerations to help resilience and internal controls compliance
  • The key items to consider for now, next and beyond with a focus on the key risk areas
  • How EY can help

Download below to assist your planning for future remote closing environments.

You can also review our latest insights and thinking to support you in leading through these volatile times; don’t hesitate to reach out if you have any questions.

Thought Leaders


James Maher

Insurance, Sector Leader

Ciara McKenna

Partner






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