Indiana § 27-1-3.5-3.2 "Internal audit function"

Indiana Statutes

§ 27-1-3.5-3.2 — "Internal audit function"

Indiana § 27-1-3.5-3.2

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 3.5Annual Audited Financial Reports

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Bluebook

Ind. Code § 27-1-3.5-3.2 (2026).

Text

2. 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.

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2. 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.