NAIC Model Audit Rule Compliance Workshop

Learn how to comply using a cost effective approach to address your compliance needs under the NAIC's Model Audit Rule (MAR) requirements concerning internal controls over financial reporting (ICFR).

This three-day workshop is designed for compliance managers, controllers, CFO’s and others who have to create the internal control framework to allow for the insurance organization to comply with the NAIC's MAR. We use the Financial Condition Examiners Handbook as a guide to the optimized compliance framework suggested by the NAIC. Our strategy is to provide 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 internal control framework assessment several years ago after Sarbanes-Oxley was enacted. Now qualifying insurance operations have to comply with the MAR regulations concerning auditor independence, corporate governance, internal control over financial reporting (ICFR) and information technology general controls. The NAIC is focused on its regulatory requirements on solvency, auditor independence, corporate governance and information technology general controls. The risk mitigation approach is to look at Entity Level risks and the application of controls to create residual risk. Recently, the NAIC has been working on an Own Risk and Solvancy Assessment requirement. We review the lastest on this proposed regulation.

Over the past six years public companies have struggled with SOX Section 404 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. The overall objective of SOX was to improve entity-level controls and corporate governance. This workshop is designed to help the insurance operation avoid the mistakes that were made in SOX compliance. The state insurance departments are focused on improving corporate governance and having effective mitigation of entity level solvency risks.

The establishment of effective ICFR is a comprehensive project from which the successful implementation can be achieved with a comprehensive approach. This workshop will jump start the compliance project and leverage efforts to come into MAR compliance.

The current cost of these seminars is $2,600/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

Refer to our Seminar Cities Index for a list of our seminar locations. The individual city pages provide a listing of other topics being present. Our Seminar Cities by Week provides a guide to the locations during a calender week.

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Benefits of Attending

In this insurance focused, three-day workshop you will move through an overview of COSO, COBIT and the NAIC Model Audit Rule to build a real understanding of the NAIC compliance requirements. You will benefit from the extensive insurance accounting, auditing, compliance and systems backgrounds of the course creators and instructors. We teach how to address compliance based on the lessons we have learned by the effective implemention 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 taught by cost-conscious internal control experts who have helped dozens of companies to understand compliance 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.

"> >Link to Article on MAR 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

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Experts Providing Training Seminars

Corporate Compliance Seminars was founded by experts who enjoy researching and providing classroom training, workshops and consulting on internal controls, auditing, compliance and accounting related subjects. We focus on SOX, COSO, PCAOB, COBIT, GRC, risk management, IFRS and IIA Standards.

Corporate Compliance Seminars allows attendee to earn Official NASBA CPE credit while examining the details of the Sarbanes-Oxley Act of 2002 (SOX), Internal Controls over Financial Reporting (ICFR), Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control Frameworks, ISACA's Control Objectives over Information Technology (COBIT), Information Technology Infrastructure Library (ITIL), Open Compliance & Ethics Group's (OCEG)Governance, Risk & Compliance (GRC) methodology, PCAOB's Auditing Standard 5 (AS5), and the future conversion from GAAP to the International Financial Reporting Standards (IFRS).

Our training seminars provide CPE For CPAs, CFEs, CIAs, CISAs, auditors and others with effective and engaging educational training.