What is the process of auditing of insurance company?

Question

What is the process of auditing of insurance company?

Answer 1

Reviewing the effectiveness and utilization of assets is not

within the purview of a security audit. Security audits

primarily focus on the evaluation of the policies and

procedures that ensure the confidentiality, integrity and

availability of data. During an audit of security the IS

auditor would normally review access to assets, and validate

the physical and environmental controls to the extent

necessary to satisfy the audit requirements. The IS auditor

would also review logical access policies and compare them

to job profiles to ensure that excessive access has not been

granted. The review also would include an evaluation of

asset safeguards and procedures to prevent unauthorized

access to assets.

Kalra

Answer 2

Mr.Kalra has given a brief answer.  The IRDA has some procedures, which will be followed at the time of audit and must comply with the mandatory and statutory requirement of IRDA regulation.  The entire audit process should be within the purview of the IRDA ACT.