Regulatory and Internal Audit Priorities for 2022

Insurance Sector

read timeRead time: 14 mins

The last 24 months have seen a lot of challenges and changes that could not have been predicted.

The impact of Brexit, the BEIS focus on governance and internal controls, the increasing complexity of business models and strategies, and continued regulatory scrutiny are just some of the other challenges for firms to navigate. This means greater reliance on suitable compliance, and more pressure from management on their Internal Audit functions.

All these issues are reflected in the FCA and PRA 2021/22 Business Plans and our views on the hot topics and priorities that should feature on internal audit plans for insurance sector firms are set out in the latest publication from our Governance, Risk & Control Assurance team.