Skip to content
26 July 2014
The past troubles at IAG’s UK subsidiary, Equity Red Star, continue to haunt the business with its auditor now under investigation.
The UK’s Accountancy and Actuarial Discipline Board (AADB) has launched an investigation into KPMG’s auditing procedures at the Lloyd’s syndicate.
The AADB says its investigation will focus on the provision of actuarial advice in relation to reserving at the syndicate between 2007 and 2009.
KPMG has said it will co-operate fully with the investigation.
“We are confident our audit work in relation to the Equity Red Star syndicate met the relevant professional standards,” a KPMG spokesman said.
This latest investigation follows the recent censure of Equity by Lloyd’s over its reserving and record-keeping.
The Lloyd’s Enforcement Board found the company failed to “comply with Lloyd’s requirements for the maintenance of systems and controls procedures and/or for the maintenance of a high standard of documentation in relation to its reserving processes”.
The Lloyd’s investigation resulted in two charges of detrimental conduct against the company in relation to the 2008/09 financial year.
21 July 2014
Best AR structure in Australia! Become your own boss and build your broking business with extensive networks and ongoing support to ensure your success!
21 July 2014
This role has success written all over it for an experienced ambitious & driven underwriter ready to accelerate their career & drive their own success
16 July 2014
This exciting opportunity is responsible for management and further development of the recently launched Coles Life insurance portfolio, managing the partner relationship ensuring delivery of the customer experience and Coles brand promise.
11 July 2014
Dynamic insurance practice based in Mount Waverley is looking for a bright and skilful insurance professional to manage our growing domestic insurance portfolio and look after our clients. We are an authorised rep practice, not a broker model.
8 July 2014
National loss adjusting firm is seeking an experienced Major Loss Adjuster with a minimum seven to ten years' experience to join our Cerno team in Sydney.
7 July 2014
National loss adjusting firm is seeking an experienced Business Interruption Adjuster with a minimum five to seven years’ of experience to join our Cerno Melbourne team.