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2/14 W01/March 2017 Award in General Insurance

Depending on the size of the company, the compliance officer’s role may be ‘hands on’ or it may involve
overseeing some of the functions, with the work being carried out by others in the team. It is even
possible for the tasks to be carried out by an external compliance consultant, however the responsibility
2 and accountability of the compliance officer cannot be delegated.
Chapter I8 Internal auditors

Internal auditors work within companies to monitor and evaluate how well risks are being managed, how
Internal auditors work
within companies to the business is being governed and how internal processes are working. They provide an independent
monitor and evaluate and objective assessment of the effectiveness and efficiency of a company’s operations, specifically its
how well risks are
being managed internal control structure.
Unlike external auditors, they look beyond financial risks and statements to consider wider issues such
as the organisation’s reputation and will also advise on how to improve systems and processes and play
a key role in assessing the reliability of financial reporting and compliance with laws and regulation. Reference copy for CII Face to Face Training