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Audit companies rating - 7

Insurance audit

Audit of insurance companies is referred to specific sphere of audit activity as "financial collapse" of the insurer affects the interest of a big number of people - insurers and insured. The aim of the independent audit is to express the opinion on conformity of financial services and business transactions handled by the insurance company to the effective legislation and to confirm the accuracy of reflection of financial results of the activity in accounting and reporting, thanks to which the unbiased understanding of the user of financial statements about financial stability of the insurance company is achieved.

Peculiarities of audit of insurers are determined also by special insurance legislation, characteristics of accounting of insurance operation and preparation of financial statements, calculation of actuarial reserves and peculiarities in taxation of insurance companies.

The main services in audit of insurers are:

  • Audit or expression of the opinion on the reliability of financial statements (reporting) of the insurance companies;
  • Related services:
    • book-keeping (preparation of accounting reporting) under Russian and international standards;
    • analysis of the current financial situation of the insurance company;
    • stocktaking of assets and liabilities;
    • review of financial statements of the insurance company for a certain period of time;
    • tax audit and minimization of taxation.

Audit work can be carried out in accordance with assignment determined by the Client depending on the reason of audit:

  • Annual obligatory audit;
  • Audit because of legal registration changes;
  • Audit because of change of executive management to support transfer of affairs;
  • Audit because of change among shareholders;
  • Audit because of other circumstances.

We perform an audit according to Federal Law No. 307-FZ dd. 30 December 2008 On audit activity, and Federal regulations (standards) of audit activity approved by the Government Decree of the Russian Federation No. 696 dd. 23 September 2002 (with subsequent amendments and additions) as well as by the Order of the Russian Ministry of Finance No.46n dd.20 May 2010 and internal standards, methods and procedures, instructions on audit.


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