Solvency II for Auditors
What does Solvency II require of a Auditor?
Internal Auditors assess whether compliance controls are operating effectively. Under Solvency II, the work that lands on a Auditor is deciding which controls you own outright, which you share, and which belong to another team, then holding evidence for the first group.
Which Solvency II controls land on the Auditor
Internal Auditors assess whether compliance controls are operating effectively. They plan and execute audit engagements, evaluate evidence, report findings, and track remediation of identified gaps and nonconformities.
Solvency II includes requirements that directly affect the Auditor role. Understanding which controls fall within your ownership, which are shared, and which are owned by other teams is the foundation of effective compliance management.
What a Auditor is accountable for under Solvency II
Planning and executing risk-based audit engagements against compliance frameworks
Evaluating control design and operating effectiveness through testing
Documenting findings, observations, and recommendations in audit reports
Tracking remediation actions and verifying closure of audit findings
Assessing organisational readiness for external audits and certifications
Where Auditors lose time on Solvency II
These are the most common obstacles Auditors face when managing Solvency II compliance, and how to address them:
Challenge 1
Efficiently testing controls across large, complex frameworks
Challenge 2
Accessing reliable evidence without disrupting business operations
Challenge 3
Mapping controls across multiple frameworks to avoid duplicate audit testing
Challenge 4
Keeping audit programmes current with regulatory and framework changes
Challenge 5
Communicating audit findings in a way that drives management action
A working order for a Auditor starting on Solvency II
1. Readiness Assessment
Take a 5-minute readiness assessment to identify your organisation's current gap profile against Solvency II. Get a prioritised action plan tailored to your specific situation.
2. Cross-Framework Mapping
Use our platform to map Solvency II controls against other frameworks you already comply with. Identify overlapping controls to reduce duplicate effort.
3. Build Your Toolkit
Equip yourself with Solvency II toolkits, self-assessments, and implementation guides from our store. Resources designed specifically for Auditors managing compliance programmes.
4. Continuous Monitoring
Establish ongoing compliance monitoring using our platform's gap analysis tools. Track your maturity over time and demonstrate progress to stakeholders.
Solvency II in your sector
Who else owns part of Solvency II
Questions Auditors ask about Solvency II
What does a Auditor need to know about Solvency II?
How does Solvency II affect the Auditor role?
What are the biggest Solvency II challenges for Auditors?
How should a Auditor prepare for a Solvency II audit?
What tools help Auditors manage Solvency II compliance?
Auditor: How ready is your organisation for Solvency II?
Answer 25 questions and get a professional readiness report with gap analysis, maturity scores, and prioritised action items. Results in 5 minutes.