Ind. Code § 27-1-3.5-3.2

Current through P.L. 171-2024

Section 27-1-3.5-3.2 - "Internal audit function"

As used in this chapter, "internal audit function" means a process that provides independent, objective, and reasonable assurance that is designed to:

(1) add value to and improve a domestic insurer's or group of insurers' operations; and

(2) accomplish the domestic insurer's or group of insurers' objectives;

through introduction of a systematic, disciplined approach to the evaluation and improvement of the effectiveness of risk management, control, and governance processes.

IC 27-1-3.5-3.2

Added by P.L. 146-2015, SEC. 6, eff. 7/1/2015.