In its introductory part, the course provides a background of finance operations. Moreover, the programme provides an overview of the main legislation and regulations relevant to the field. It also discusses the underlying aspects of the financial reporting regime insofar as insurance accounting is concerned and general principles of governance and risk management
The objective of this course is to enable participants obtain a specialised and technical understanding of the accounting/financial principles and practices underlying insurance operations as well as an understanding of the regulatory requirements and frameworks.
Upon completion of the programme, the candidate will obtain knowledge and be able to understand the relevant regulations and accounting operations affecting insurance. The participant should be able to understand the general facts, principles and concepts underlying the financial principles related to an insurance environment.
The course consists of 26.5 contact hours specifically 12 sessions, held once a week. A further 100 hours of self-study is required. Examinations will be held between 0930-1130hrs on a Tuesday.
There are no specific entry requirements however as it is intended for practitioners in the relevant field, then it is recommended that the participant has an understanding of financial terms and a good level of accounting knowledge (although not necessarily insurance accounting knowledge).
The Insurance Accountants and Auditors Course is intended for finance professionals who are in or would like to join the insurance industry. It is also relevant to those independent practitioners who wish to audit or account for insurance firms.
This programme will lead successful candidates to perform duties in the financial services Industry, typically in an accounting / auditing environment.
There will be 1 examination session of 2 hours duration, during which candidates will be expected to answer 10 questions. The pass mark is set at 55%.
A certificate will be issued to successful candidates and will be distributed during a Presentation of Certificates event held annually.
Total Learning Hours
Full course: 418 hours
Hours include contact hours, supervised practice hours, self-study hours and assesment hours.
