The Model Audit Rule: Diagnosing your program’s reliability, resources and re-engineering processes

The National Association of Insurance Commissioners’ (NAIC) Annual Financial Reporting Model Regulation #205, commonly known as the Model Audit Rule (MAR), has been around for more than a decade, yet insurers of all sizes struggle to develop a sustainable and cost effective MAR program. While certain elements of MAR have been implemented by insurers with minimum difficulty, creating and maintaining a cost effective and efficient program that supports management’s attestation regarding internal controls (i.e., financial reporting) proves to be a challenge for many organizations.

This on-demand webinar explores common misconceptions of the MAR requirements. The presentation also discusses current trends, best practices and suggestions to improve your organization’s MAR program.

Key takeaways:

  • The MAR requirements for management’s report of internal control over financial reporting
  • Common misconceptions and current trends in addressing the requirements for the basis for management’s review and assertions
  • Options for how to re-engineer your MAR compliance program to be more cost efficient and effective

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For more information on this topic, or to learn how Baker Tilly insurance specialists can help, contact our team.