"Internal audit function"
Ind. Code § 27-1-3.5-3.2
in effectSec. 3.2. As used in this chapter, "internal audit function" means a process that provides independent, objective, and reasonable assurance that is designed to:
(1) add value to and improve a domestic insurer's or group of insurers' operations; and
(2) accomplish the domestic insurer's or group of insurers' objectives;
through introduction of a systematic, disciplined approach to the evaluation and improvement of the effectiveness of risk management, control, and governance processes.
As added by P.L.146-2015, SEC.6.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/27Fetched: 10/17/2026