Virtual Model Audit Rule Programs
Virtual MAR and COSO Insurance Program Course
This CPE course is focused on how to address Model Audit Rule (MAR) annual and triennial compliance using the COSO frameworks (COSO 2013 and COSO ERM) and COBIT.
This five morning CPE course is designed for compliance managers, controllers, CFOs and others who have the responsibility for the insurance organization's internal control framework used in the NAIC Model Audit Rule compliance efforts. Examples are used which tie to the seventeen COSO principles. Reference is made to the various exhibits in the Financial Condition Examiners Handbook which drive the examination of compliance activities.
Learn how to comply using a cost effective approach to address your compliance needs under the NAIC Model Audit Rule (MAR) requirements. These requirements concern both the annual filings but also the Insurance Commissioner's approach using the Financial Condition Examiners Handbook for the triennial exams. Each attendee will go home with a set of 55 documents that were used to create the workshop.
Follow the below links for further detail information:
. Seminar Highlights
. Learning Objectives
. Key Issues on the Agenda
. Table of Contents for the Model Audit Rule Regulation
. Complete Copy of the Model Audit Rule Regulation
CCS offers two programs that are targetted at insurance organizations that have to comply with MAR:
NAIC Model Audit Rule Program Training (NAIC MAR Program) is focused on the creation of a program to address the NAIC MAR law. It looks at how to create the necessary entity level controls to address the Insurance Commissioner's triannual audit. It covers in detail the COSO Internal Framework and how to relate the documentation to the COSO framework for Entity, ITGC and Business Process controls. This is for the organization or person that has never been involved with MAR.
NAIC Model Audit Rule Compliance Academy (NAIC MAR Compliance) is focused on how to run the annual MAR program that allows for managmenet to certify the internal controls each year. It is down in the details about how to document, test and report to management to the operation of the compliance program. This is focused on the organization and people that want to improve their controls and their MAR program.
The retail cost of this CPE seminar is $1,575.00 for the first attendee from a single organization. Discounts are available for more than one attendee from each organization: (2) $2,990.00 (3) $4,250.00 (4) $5,350.00 (5) $6,300.00.
Each attendee will receive 12 Auditing, 2 Business Law, 2 Business Management & Organization, 2 Behavioral Ethics, 2 Computer Science CPE Hours (YB). A certificate of completion will be provided.
Upcoming Virtual NAIC Model Audit Rule Programs Training Events:
|Monday-Friday, November 9-13, 2020
||Daily 8:45 a.m. - 12:45 p.m. Central Time
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Benefits of Attending
In this insurance focused, virtual event will move you through an overview of COSO ERM, COSO 2013, COBIT 5.0 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 implementation of MAR compliance. 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 over 200 insurance organizations to understand compliance with the NAIC Model Audit Rule.
CCS has 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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- Review the details of COSO ERM and COSO 2013
- Top Down Risk Based Methodology Defined
- Best Practices to 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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- 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 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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In preparing the materials for the NAIC MAR Workshop the following reference materials were used:
- NAIC Annual Financial Reporting Model Regulation - Click here to move to this document.
- Insurance Core Principles, Standards, Guidance and Assessment Methodology - Click here to move to the IAIS's Website for a downloadable copy.
- NAIC Solvency Modernization Initiative - Click here to move to the NAIC's Website for a downloadable documents.
- NAIC Own Risk and Solvency Assessment (ORSA) Model Act - Click here to move to the NAIC's Website for a downloadable copies of the Act and Guidance Manual documents.
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NAIC - Annual Financial Reporting Model Regulation
Links are provided to each Section of the Model Audit Rule Template
Section 1. Authority
Section 2. Purpose and Scope
Section 3. Definitions
Section 4. General Requirements Related to Filing and Extensions for Filing of Annual Audited Financial Report and Audit Committee Appointment
Section 5. Contents of Annual Audited Financial Report
Section 6. Designation of Independent Certified Public Accountant
Section 7. Qualifications of Independent Certified Public Accountan
Section 8. Consolidated or Combined Audits
Section 9. Scope of Audit and Report of Independent Certified Public Accountan
Section 10. Notification of Adverse Financial Condition
Section 11. Communication of Internal Control Related Matters Noted in an Audit
Section 12. Accountant's Letter of Qualifications
Section 13. Definition, Availability and Maintenance of Independent Certified Public Accountant Work Papers
Section 14. Requirements for Audit Committees
Section 15. Internal Audit Function Requirements
Section 16. Conduct of Insurer in Connection with the Preparation of Required Reports and Documents
Section 17. Management's Report of Internal Control over Financial Reporting
Section 18. Exemptions and Effective Dates
Section 19. Canadian and British Companies
Section 20. Severability Provision
NAIC CORPORATE GOVERNANCE ANNUAL DISCLOSURE MODEL ACT
NAIC Model Laws, Regulations, Guidelines and Other Resources-4th Quarter 2014
Links are provided to each Section of the Corporate Governance Annual Disclosure Model Act
Section 1. Purpose and Scope
Section 2. Definitions
Section 3. Disclosure Requirements
Section 4. Rules and Regulations
Section 5. Contents of Corporate Governance Annual Disclosure
Section 6. Confidentiality
Section 7. Third-party Consultants
Section 8. Sanctions
Section 9. Severability Clause
Section 10. Effective Date
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Instructor for Model Audit Rule
John C. Blackshire, Jr.
He has over 45 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).
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Key Issues on the Agenda
Introduction and Background
- Internal Control Terminology
- Regulatory Remapping
- NAIC Prospective on Internal Control over Financial Reporting (ICFR)
- SEC & PCAOB Prospective on ICFR
- Issues Affecting 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 Environment
- Tone at the Top
- COSO Control Environment 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
- 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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Experts Providing CPE Training Events
Corporate Compliance Seminars (CCS) was created by experts who enjoy providing CPE training events. All our experts have years of experience in providing training courses, workshops and consulting on internal controls, internal auditing, information technology, cybersecurity and accounting related subjects. We have focused on SOX, COSO, PCAOB, COBIT, CMMI, GRC, GAAP, IFRS, AICPA, GAO, NAIC, ISO, and IIA Standards. We are your best source for continuing professional education (CPE).
Our programs, live in-person, webinar and on-demand, provide CPE for professionals with CPA, CGA, CIA, CFE, CISA, CMA and CA designations. CCS is focused on providing the best learning programs in using three distinct distribution channels: live in-person events, virtual webinar events and on-demand self-study e-learning.
Corporate Compliance Seminars presents CPE to a range of professionals, auditors, accountants, finance staff, compliance personnel, information technology (IT) professionals, Boards of Directors and Audit Committees. We examine the details of risk management, Sarbanes-Oxley Act compliance, Model Audit Rule (MAR) compliance, auditing, internal controls, cybersecurity and compliance, and fraud prevention and detection.
Within the U.S.A. marketplace, Corporate Compliance Seminars allows the attendee to earn NASBA CPE credit.
Our events focus on 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), AICPA auditing standards, and NAIC regulatory model regulations and acts .
Our live in-person events are generally presented in a small classroom setting with two to five attendees. Over the last few weeks, we have come to the understand we need to provide distant e-learning events. We are now in the process of moving all our content to an online available status. We have created distant e-learning opportunities using both a virtual webinar event approach and on-demand e-learning self-study modules. These two e-learning approaches: webinars and on-demand self-study with extended web access to our content into the global continuing professional development (CPD) marketplace. In the webinar e-learning events we will limit the number of students to maximize the interaction between the live instructor and attendees. The on-demand self-study e-learning modules will be created and offered to meet the NASBA CPE credit requirements .
Our seminars provide CPE for the CPA, CFE, CIA, CISA, auditors and others with effective and engaging internal audit training courses.
Our instructors have had direct experience in the following industries: financial activities, bank, insurance, healthcare, construction, leisure and hospitality, professional and business services, mining and oil & gas extraction, manufacturing, educational, government agencies, transportation, software, technical, hi-tech and agricultural.
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