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International Accounting
 

Practical implementation of the methods to assess the effectiveness of the insurance company's internal control system

Vol. 23, Iss. 4, APRIL 2020

Received: 5 March 2020

Received in revised form: 25 March 2020

Accepted: 31 March 2020

Available online: 15 April 2020

Subject Heading: AUDIT ACTIVITY

JEL Classification: G22, M41, М42, M49

Pages: 428–443

https://doi.org/10.24891/ia.23.4.428

Turgaeva A.A. Astrakhan State Technical University (ASTU), Astrakhan, Russian Federation
a_turgaeva@mail.ru

https://orcid.org/0000-0002-8374-1706

Subject. This article deals with the issues of building an internal control and audit system of insurance companies and improving its efficiency.
Objectives. The article aims to assess the effectiveness of the internal control system of the insurance company on the basis of the original quantitative and qualitative indicators presented in previous articles.
Methods. For the study, I used statistical inquiry and data handling procedures, mathematical techniques, grouping, and expert assessment methods.
Results. The article presents a calculated integrated index of the internal control system effectiveness of the insurance company. It assesses the organization of the internal control system through testing.
Conclusions. By assessing the internal control system of the insurance company using quantitative and qualitative indices, it is possible to identify the level of effectiveness of the internal control system and the system's weaknesses. Employee surveys can improve the level of internal control by exposing the auditors' substandard work.

Keywords: insurance enterprise, internal control, aggregate indicator, control environment, control procedures, monitoring

References:

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