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.
Indiana Legal Code