On Jan 23, 2021, the first meeting of the Internal Auditing Taskforce was held with the participation of the internal audits from the insurance companies aimed at clarifying the operational programs and agenda of the taskforce, according to PRIAO.

Given the necessity of doing research in the internal auditing subject in the insurance industry, the Reporting and Internal Controls Taskforce was formed at IRC a while ago and later the Internal Auditing Taskforce was spun off with a new outlook to do more specialized studies in the field. Some of the IRC’s measures in bringing change to and leveraging internal auditing position in the insurance industry are as follows: conducting the first webinar on internal auditing rhythm, developing agenda, operational program proposal for short- mid- long- term periods, and its presentation in the first meeting of the taskforce.

In this meeting where Dr. Zohreh Hajiha, Head of Accounting Department at Islamic Azad University, East Tehran Branch, participated, the researchers, directors, and internal audits of the insurance companies presented their views on the position of the internal auditing in the insurance industry. They also discussed about the relevant challenges, obstacles, and strategies.

The participants’ perspectives implied that insurance industry as one of the special industries requires its own specialized accounting methods and procedures. Benchmarking with the active internal audits in the region, continent, and the world will also lead to an appropriate model in order to compare, analyze, and assess our country’s insurance industry. Formulating standard formats, developing tailored checklists for the insurance industry, developing and assessing internal controls, planning and budgeting for time, location, finance, and human capital, leveraging the executive power of the insurance internal audits, the CEO’s confidence in leveraging the internal auditing, moving toward unified reporting in terms of structure and content, continuous and life-time education in all the executive and documentation realms, venerating the influential people in various national, regional, and global levels, appointing annual prizes, enhancing the present status of the internal auditing in the insurance companies are some of the subjects discussed in the meeting.
 
Those interested can pay a visit to the dedicated webpage of IRC’s Internal Auditing Taskforce at http://www.irc.ac.ir/fa-IR/Irc/5186.