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Corporate Compliance Seminars - Left Menu, Internal Control Pages
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NAIC Model Audit Rule Compliance Workshop
Learn how to comply using a cost effective methodology to address the NAIC's Model Audit Rule (MAR) requirements concerning internal controls over financial reporting (ICFR).
This timely, three-day MAR workshop is designed for compliance managers, controllers, CFO’s and others who have to create the documentation to allow for the insurance organization to comply with the NAIC's MAR. We will walk through actual examples of how compliance has been addressed in an effective and efficient manner by insurance organizations.
The NAIC started on the path to its own version of SOX several years ago. Starting in 2010, insurance operations will have to comply with new regulations concerning auditor independence, corporate governance, and internal control over financial reporting (ICFR). Over the past four years public companies have struggled with SOX compliance. These struggles can be attributed to ineffective regulatory guidance (Auditing Standard 2), a rush to comply, a lack of ICFR implementation guidance and a focus on detail business processes not entity-level controls.
The establishment of effective ICFR is a comprehensive project which successful implementation can be achieved in 18 to 36 months. This workshop will jump start the compliance project and leverage your efforts to come into compliance.
Cost of these seminars are $2,400/Attendee. Each attendee will receive 24 hours of CPE credit. Each workshop is limited to the first 10 signups. To reserve your space using the Buy Now Button to place a deposit and fill out a registration form to designate your selected workshop.
Upcoming NAIC Model Audit Rule Compliance Workshops
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Armonk, NY |
March 10 to 12, 2010 |
20 Old Post Road |
| Las Vegas |
March 30 to April 1, 2010 |
Fremont Hotel & Casino |
Washington, DC |
April 20 to 22, 2010 |
National Conference Center, Lansdowne, VA |
| New Jersey |
May 4 - 6, 2010 |
Dolce Basking Ridge, New Jersey |
Chicago |
June 14 - 16, 2010 |
222 S. Riverside Plaza |
| Colorado |
July 13 - 15, 2010 |
Aspen Meadows Resort, Aspen, Colorado |
Minneapolis |
August 17 - 19, 2010 |
Dolce Oak Ridge, Chaska, MN |
| Washington |
September 21 - 23, 2010 |
The Bolger Center, Potomac, MD |
New Orleans |
October 5 - 7, 2010 |
1 Galleria Blvd., Metairie, LA |
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Benefits of Attending
In this insurance focused, three-day seminar you will move through an overview of COSO,
COBIT and the NAIC Model Audit Rule to build an understanding the compliance requirements
to the creation of prototype documents that will meet specific ICFR requirements.
You will benefit from the extensive insurance accounting and systems backgrounds
of the course creators and instructors. The methodology we teach for compliance is
based on lessons learned by the effective implemented of ICFR in numerous situations.
We teach a top down risk based methodology to the creation of effective ICFR.
The results of attending this workshop will be a better focused compliance program
that meets the needs of the issuer and the external auditors. This workshop will be
instructed by cost-conscious internal control experts. They have helped dozens
of companies comply with the Sarbanes-Oxley Act and the NAIC's Model Audit Rule.
They have been presenting compliance seminars throughout the United States since SOX's
ratification in 2004. The instructors will candidly share their experience and present
a pragmatic approach to Model Audit Rule compliance.
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Seminar Highlights
- Top Down Risk Based Methodology Defined
- Best Practices to Control Environment Documentation and Assessment
- Entity Level Control Documentation
- Risk Assessment Documentation
- Information Technology General Controls Documentation
- How to Manage Communication with External Auditors and Audit Committee
- Workshops focused on Major Deliverables
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Learning Objectives
- Attendees will understand risk assessments from the insurance accounting viewpoint
- Attendees will see how to effectively implement top down internal controls
- Attendees will learn the compliance requirements of the NAIC's Model Audit Rule
- Attendees will discuss relationship with their external auditors under the Model Audit Rule
- Attendees will identify methods for improving their internal control frameworks
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Instructors for Model Audit Rule
John C. Blackshire, Jr.
He has over 35 years of accounting, business management, internal control, software development
and auditing experience. During his career, he has conducted numerous project assessments,
internal control audits, designed business process controls, designed automated accounting system controls,
and created several project and quality control methodologies.
During his years at KPMG, he was an external auditor for life insurance, property & casualty
and health insurance plans. He was with Insurance Systems of America for several years working on the ISA/ABC, ISA/CDS
and ISA/OSCARS applications. He helped to design and develop the Walker Interactive and Genelco
financial applications which were used by numerous insurance organizations.
He has written numerous articles, presented continuing education seminars, and published booklets on
best practices in the accounting, finance and information technology functions. He is currently
providing an extensive set of continuing professional education seminars concerning internal controls.
His classes cover COSO, COBIT, ITIL, SEC Management Guidance, PCAOB Standards, NAIC Model Audit Rule,
OMB A-123 Regulations and Virginia State mandates.
John holds a BS in Accounting from the University of South Carolina (USC) and was a Certified
Public Accountant. He is a member of the Dean's Advisory Committee for the Moore School of
Business at USC. He is an active member of the Institute of Internal Auditors (IIA) and the
Information Systems Audit and Control Association (ISACA).
The Accountware Group, Inc.
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Jay Roy, CMA
Jay Roy is a financial professional well versed in re-engineering initiatives as well as
SEC regulations, financial audits and compliance. With a background as an auditor in a
Big Four accounting firm, Jay’s industry experience ranges from start-ups to Fortune 500
companies. His clients span industries including insurance, oil and gas, manufacturing, steel, automotive,
high tech and restaurant/retail.
Recently Jay’s consulting focus has been assisting several insurance organizations with
NAIC Model Audit compliance. In the context of Sarbanes-Oxley compliance implementation projects,
he helps businesses identify risks and opportunities for improvement, and then to improve
their internal processes to be more cost-effective and customer focused in order to achieve
aggressive business goals.
Mr. Roy is a regular speaker and instructor at conferences and seminars.
Strategic Compliance Group
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Key Issues on the Agenda
Registration
Introduction and Background
- Introductions
- Internal Control Terminology
- Regulatory Remapping
- NAIC Prospective on Internal Control over Financial Reporting (ICFR)
- SEC & PCAOB Prospective on ICFR
- Issues Effecting Insurance Accounting & Auditing
Section 1 - NAIC Model Audit Rule (MAR)
- History of Insurance Regulation
- Overview of Changes to Model Audit Rule
- Urban Legions Concerning ICFR
- Annual Financial Reporting Model Regulation (MAR) by Section
Section 2 - Top-Down vs. Control-Based Compliance
- Public Company Accounting Oversight Board (PCAOB)
- The Original COSO
- Auditing Standard #2 - Control Based Approach
- Auditing Standard #5 - Top Down Risk Based Approach
- SEC Risk Assessment
- NAIC Risk Assessment
- NAIC Risk Mitigation Strategy
Section 3 - NAIC Model Audit Guidance
- NAIC's Financial Condition Examiners Handbook
- NAIC's Audit Rule Implementation Guide
- SEC Management Guidance
- CMMI Levels of Maturity
Section 4 - Internal Control Methodologies
- Many Models
- SOX Methodologies
- COSO Internal Control Framework
- COBIT Framework
Section 5 - Entity-Level Controls - Risk Assessment
- COSO Top Down Approach
- NAIC's Prospective
- NAIC's Exam Phase 1
- COSO Risk Assessment Component
- Specific Financial Reporting Objectives
- Financial Reporting Risks
- Fraud Risks
Section 6 - Entity-Level Controls - Control Enviroment
- Tone at the Top
- COSO Control Enviroment Component
- Integrity and Ethical Values
- Board of Directors
- Management's Philosophy & Operating Style
- Organizational Structure
- Financial Reporting Competencies
- Authority and Responsibility
- Human Resources
Section 7 - Entity-Level Controls - The Supporting Components
- COSO Control Activities Component
- Integration with Risk Assessment
- Selection & Development of Control Activities
- Policies and Procedures
- Information Technology
- COSO Information & Communication Component
- Financial Reporting Information
- Internal Control Information
- Internal Communication
- External Communication
- COSO Monitoring Component
- Ongoing and Separate Evaluations
- Reporting Deficiencies
Section 8 - Business Process Controls and Testing
- Key Elements of ICFR
- Business Processes & Cycles
- Testing Standards
Section 9 - Information Technology General Controls
- COBIT
- NAIC's Prospective on IT Controls
Section 10 - Management's Assessment
- Knowledge Transfer to Auditors
- Using the Work of Others
- Management's Assessment
- Opining to the Auditor
Section 11 - Going Forward
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