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Financial Statement Audit
The auditors on our insurance team will provide you timely, accurate information for good decision making. They will help you respond to current regulatory demands and also help you plan for the future based on upcoming changes in financial accounting laws and regulations.

Insurance Industry Financial Statement Audits

Plante Moran’s insurance practice has tripled in the last five years. Why the growth? Our insurance specialists understand how to serve insurance companies. When you hire us to conduct your financial statement audit, we know how important it is for you to meet regulatory deadlines and avoid surprises. Our approach to client service and technical expertise is unmatched.

In addition, you will benefit from our firm culture that stresses service and has a philosophy of putting client success first. To us that means allocating substantial partner and manager time to your financial statement audit and making sure there is consistency in the staff that serves you. We can promise you will see most of the same faces from one year to the next because our firm has the best staff retention rate in the industry. 

Bench strength

To ensure that your important deadlines are met, the insurance practice staff has developed an incremental process for financial statement audits that ensures you get the information you need, when you need it throughout the year. You can also be assured that our insurance team has the bench strength to provide you consistently exceptional and timely services into the future.

The auditors you work with will be especially trained in the needs of the insurance industry. They understand statutory-based financial reporting, and they are aware of the issues, trends, and challenges that insurers face every day. 

National Association of Insurance Commissioners (NAIC)

Our insurance team members closely monitor rulings by the National Association of Insurance Commissioners (NAIC) and are active in the Insurance Accounting and Systems Association (IASA). Therefore you can depend on them to be up-to-date on the issues important to your company.

You will also appreciate their responsiveness and efforts to keep your audit committee abreast of important regulatory and governance issues. We hear from our clients that responsiveness is important to them, so our insurance team makes communication a priority. You can depend on them to update you throughout your financial statement audit as well as throughout the year on industry specific accounting and auditing issues. And your audit committee will know immediately when questions arise because our audit team takes a “no surprises” approach. 

We add value to the audit process

You can expect financial statement audits by our insurance team members to be more than compliance. They will use their industry knowledge and experience working with many other insurers to find opportunities for saving and efficiencies as they review your financial statements. And when they see an opportunity, they can collaborate with their 1,600 colleagues to give you suggestions on “next steps.”

Our audit team will look at your issues from all angles, accommodate your concerns in creative ways, and ensure you remain in compliance.

You will appreciate their attention and thoroughness. It’s all a part of Plante Moran’s philosophy of investing in the success of our clients.

They made us feel like we were their only client. They were responsive, helpful and had a professional manner. They matched their audit planning and timeline almost to the day. We’ve been through more than 35 audits over the years, and our initial experience with Plante Moran was as close to enjoyable as you can get.

President/CFO International Insurance Agency