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Cross-border insurance group - audit coordination breakdown resolved under deadline pressure

Cross-border insurance group - audit coordination breakdown resolved under deadline pressure

A cross-border insurance group with entities across multiple jurisdictions experienced a breakdown in audit coordination between local and group auditors, placing statutory reporting deadlines at risk.

Scope and key challenges

  • misalignment between group auditor and local TCI audit team
  • duplicated and conflicting information requests
  • compressed reporting timeline ahead of group consolidation
  • lack of clear ownership over audit coordination
  • escalating pressure from group finance function
  • risk of missed statutory and group reporting deadlines

How we helped

We stepped in as local coordinating auditor and restructured the entire communication flow.

Our approach included:

  • establishing a single coordination framework between all audit stakeholders
  • aligning expectations with group audit team and local management
  • prioritising critical audit areas affecting consolidation
  • removing duplicated information requests and streamlining communication
  • providing structured status updates to reduce uncertainty for finance teams
  • taking direct ownership of local audit execution under tight timeline constraints

Results

  • successful completion of audit within group reporting deadline
  • restored coordination between jurisdictions
  • significantly reduced finance team workload during final phase
  • improved clarity and communication across audit stakeholders
  • prevented downstream delays in group consolidation process
Country:

TCI

Industry:

Insurance & Captive Insurance

Services:

Audit & Assurance