Audits, Reviews and Second opinions
Audits, independent reviews and second opinions have become an essential element in insurance activities. Whether we talk about financial reporting, operations or systems, they have become unthinkable without an independent review.
For AT Global, the approach of an audit always relies on the specific needs and necessities of the company. Regardless if you are a large national or international insurance organisation, a re-insurance company, a niche corporation or an auditor, we not only accompany you by sustaining on the actuarial side of an audit but we also provide advices on weak points in the controlling or reporting system, your business processes, compliance and governance and assist you in improving the reporting processes and give you the adequate confidence to ensure the systems work properly.
We can assist you in different types of audits such as the statutory audit. A considerable part of our experience is based on giving actuarial assistance to the auditor at the statutory audit of the financial reporting of (re)insurance companies, whether in IFRS or other or local GAAP, with important focus on the balance sheet elements. This includes giving our opinion on the level of provisions and on the financial state of the audited (re)insurance company, on the execution of the LAT test, on the ALM policy, etc.
Within AT Global, you also meet the knowledge and the experience needed to assist you in the internal audit function. We can assist you and give you our opinion with internal controls, your policies and procedures, your operational systems and your operational framework. In such missions, we also help you improve your organisation, operations and systems to give you the required confidence in the working efficiency of the operations and systems.
We have experience in the audit of implemented policies and procedures and on the credibility of management information and of reported figures. Its results are settled in an informative report with the purpose to define 'what is done properly and what can be improved'.
Nowadays, many insurance companies publish embedded value figures in their financial reportings. We have the knowledge, experience and tools to review these figures and to give our independent opinion on these.