Delegated Audit Manager
Delegated Audit Manager is an online system that allows the market to manage and monitor the audit of Coverholder and Claims TPAs.
Delegated Audit Manager is a secure web-based system that was devised primarily to facilitate the co-ordination of audit activity for coverholders who have multiple market counterparties, to minimise the disruption to their underwriting activity. During its design and development its remit has been expanded to cover all coverholder audit activity and incorporate the audit of claims TPAs.
Delegated Audit Manager functionality includes:
- The collection and storage of auditors’ professional information for the purposes of due diligence by Managing Agents
- The scheduling of co-ordinated audits of coverholders and claims TPAs based on the recorded preferences of the participating Managing Agents
- The management of the single counterparty coverholder and claims TPA audits
- Workflow management of the submission and distribution of audit scopes from Managing Agents to auditors
- Workflow management of the submission and distribution of quotations for audit work from auditors to Managing Agents
- Workflow management of the submission and distribution of findings and recommendations arising out of completed audits from auditors to Managing Agents
- Repository of audit reports
- Workflow management of the submission and distribution of requirements for remedial action from the Managing Agents to the coverholders and claims TPAs
- Workflow management and tracking of the submission and distribution of responses and evidence from coverholders and claims TPAs to Managing Agents
As with other Lloyd’s applications such as ATLAS, brokers can access Delegated Audit Manager and complete tasks on behalf of their coverholder clients if they have been instructed to do so.
Access to Delegated Audit Manager utilises the Lloyd’s Access Framework (LAF) and requires a Lloyds.com account. To have Delegated Audit Manager permissions added to a Lloyds.com account or to raise any queries about the system use the contact details below.