Helping Internal Audit Meet the Demands of the FSA Data Audit / ‘External’ Review for Solvency II
As part of the Solvency II external review, the FSA have made it clear that they expect to be able to rely on an independent Data Quality Assessment having been performed by each firm to confirm that the correct control environment exists for all Internal Model data. However, they are aware that substantial data operations take place outside core systems in locations such as spreadsheets and CSV extracts. The challenge, explored in this presentation, is "How can Internal Audit meet the requirements of the FSA Data Audit when the reviewers need to demonstrate the “Appropriateness, Accuracy and Completeness” of Actuarial data management‟
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