Model Audit Rule Compliance
The National Association of Insurance Commissioners (NAIC) Annual Financial Reporting Model Regulation, also known as the Model Audit Rule (MAR), requires private insurance companies meeting direct premium thresholds, both written and assumed, to adopt corporate governance and reporting standards.
BKD IT Risk Services (ITRS) can help insurance organizations prepare for the regulation with the following services:
Risk Assessment, Scoping & Materiality—Includes entity, process and IT controls. Helps define the critical risks and the key controls to address those risks
Process & Controls Documentation—Based on the results of the risk assessment, we will assist or completely document your critical processes
Controls Testing—Development of test plans, scripts and templates
Controls Remediation—Guidance and coordination of remediation efforts
Project Management—Coordination and reporting of the overall project