Audit & Assurance

Independent assurance over the numbers that matter

Independent audit and assurance work that gives boards, auditors and regulators confidence in insurance and financial results.

Overview

Confidence that stands up to scrutiny.

Insurance and financial results rest on judgement: assumptions, models and data that few people outside the actuarial team can test. Xivoni provides the independent review that boards, auditors and regulators need before they rely on those numbers.

We act as the auditor's actuarial expert under ISA 620, most often on audits of micro-insurers, and carry out specialist actuarial reviews that support the wider audit process.

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Audit files and a schedule under review with a magnifying glass
What we do

Our capabilities

Audits of micro-insurers

Independent actuarial audits of micro-insurers, giving boards, auditors and regulators confidence in the numbers.

Actuarial support to auditors

Acting as the auditor's actuarial expert under ISA 620: reviewing technical provisions, methodology, data and regulatory returns.

Independent valuation reviews

Second-opinion reviews of valuations, assumptions and methodology before results go to the board or the regulator.

Model validation

Independent testing of actuarial, pricing and credit models, with clear findings and audit-ready documentation.

Regulatory & compliance reviews

Reviews of regulatory returns, solvency calculations and governance against the requirements that apply to you.

Audit readiness

Preparing data, working papers and disclosures so the audit runs smoothly and queries are resolved quickly.

Who we work with

Clients we serve

  • Micro-insurers, funeral insurers and burial societies
  • Insurers and insurance groups
  • Audit firms that need actuarial expertise
  • Municipalities and public entities
Our work in Microinsurance & Funeral
Why Xivoni

What sets us apart

  • Independent, defensible opinions
  • Actuarial depth behind every review
  • Clear reporting for boards, auditors and regulators
  • Experience across South Africa, Eswatini and East Africa
Related work

Case studies

MicroinsuranceSouth Africa

Actuarial audit of a newly licensed microinsurer

An ISA 620 actuarial review of reserves and regulatory reporting for a funeral microinsurer in its first months of trading.

Outcome: Confirmed that no adjustment to the reserves was needed, and gave the auditor a prioritised list of presentation and disclosure matters to resolve before placing reliance on the figures.

MicroinsuranceSouth Africa

Actuarial audit of an established funeral microinsurer

An ISA 620 actuarial audit covering reserves, data, reinsurance, solvency and follow-up of prior-year recommendations.

Outcome: Concluded that the methods and reserves were appropriate. Data reconciliations that had been a concern the year before now tied closely, and the remaining open matters were set out with clear priorities.

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