In response to members' requests to provide a summary of good practice, the CII in association with PKF Littlejohn has issued the Society of Insurance Broking's (SIB) understanding of the regulator's rules and current stance in relation to internal audit good practice.
Outlining the importance of effective governance in risk management and accountable oversight of internal controls, the guide seeks to explain the 'three lines of defence' model and makes a series
of recommendations on areas of improvement.
Liz Foster, non-executive director of the SIB, said: "Brokers will welcome this Good Practice Guide, which will serve as a reminder to review their approach to internal audit and also provide a model against which to map their existing internal controls."
To find out more, visit: www.sib.org.uk