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Financial Analytics: Science and Experience
 

Risk management, internal control and internal audit of insurance companies in system of insurance supervision of Canada

Vol. 6, Iss. 42, NOVEMBER 2013

Available online: 21 November 2013

Subject Heading: Foreign experience

JEL Classification: 

Peshkova T.Ju. Deputy chief of the Department of Management of Insurance supervision and Control of Procedures of Solvency Restoration, the Federal Service for Financial Markets
typeshkova@gmail.com

In the article the approach to the organization of insurance supervision in Canada is presented. The special attention is paid to requirements of the regulator to board of directors and the top management of insurance company, including, to implementation of control functions to which Canadian law considers compliance, risk management, internal audit. The role of corporate governance of insurance company in supervising process and criterion of an assessment body of insurance supervision of systems of internal control, internal audit and risk management of insurance companies is considered.

Keywords: internal control, audit, management, risk, board of directors, body on supervision of financial organizations of Canada (OSFI)

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ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

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