Kathmandu. KATHMANDU: Nepal Insurance Authority (NEA) has forwarded the necessary process to amend the Internal Audit Directive of the insurer, 2079. The directive is being amended to make the internal audit report of the insurer uniform and to make the report time-responsive.
As per the provision, the insurers are required to submit their internal audit report to the Insurance Authority of Nepal within 60 days from the end of each quarter. Meanwhile, the authority has also issued necessary directives by holding discussions with the representatives of the insurers regarding the deficiencies seen in the audit reports that the insurers submit to the NEA on a quarterly basis.
