Asia Insurance Internal Audit Benchmarking
2019 – Focus on Information Technology Audit and ‘Audit 3.0’ preparedness
Asia is a vast geography with diverse jurisdictions and regulatory regimes, requiring Regional IA functions to spread their resources across a significant number of (often sub-scale) local entities. This poses a number of challenges for these teams, in terms of logistics, availability of expertise and costs that need to be optimised.
This Benchmarking project aimed to understand organisational approaches and concepts employed by IA functions in insurance companies in Asia in order to deploy specialist IA knowledge (including IT-Audit) successfully. It further aimed to de-mystify the actual application state of ‘emerging’ technologies in Asia and IA’s current level of maturity in auditing them, as well applying these technologies for its own internal use.