Audit ensures compliance and optimizes risk management in the insurance sector, enhancing trust among stakeholders.
In modern conditions, the insurance business faces a difficult financial environment, accompanied by current significant changes in the regulation of the insurance sector. The implementation of an insurance audit is an integral part of ensuring the transparency and efficiency of the activities of a modern insurance company. It is the audit that confirms the compliance of insurance operations and reporting data with the requirements of the law, insurance standards and best practices in managing the risks of the insurance business. The main goal of the audit is to help the management of the insurance company optimize its activities, increase the efficiency of risk management and ensure a high level of trust from customers and partners. The effectiveness of audits contributes to the adoption of effective management decisions and the successful work of participants in the insurance market in the Russian Federation.
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Yermishina et al. (2025) studied this question.
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