Section 375.1042 – Audit of financial statement by independent accountant.
Effective – 28 Aug 2009 375.1042. Audit of financial statement by independent accountant. — Financial statements of the insurer to be filed pursuant to section 375.1030 shall be examined by an independent certified public accountant. The audit by the independent certified public accountant of the insurer’s financial statements shall be conducted in accordance with generally […]
Section 375.1045 – Report of findings of accountant to insurer, contents.
Effective – 28 Aug 2009 375.1045. Report of findings of accountant to insurer, contents. — 1. The insurer required to furnish the annual audited financial report shall require the independent certified public accountant to report, in writing, within five business days to the board of directors or its audit committee any determination by the independent […]
Section 375.1047 – Unremediated material weaknesses to be furnished to director, requirements — insurer to communicate remedial actions taken.
Effective – 28 Aug 2009 375.1047. Unremediated material weaknesses to be furnished to director, requirements — insurer to communicate remedial actions taken. — 1. In addition to the annual audited financial report, each insurer shall furnish the director with a written communication as to any unremediated material weaknesses in its internal control over financial reporting […]
Section 375.1050 – Workpapers, defined — availability to insurance examiners — confidentiality of.
Effective – 28 Aug 2009 375.1050. Workpapers, defined — availability to insurance examiners — confidentiality of. — 1. As used in this section, “workpapers” are the records kept by the independent certified public accountant of the procedures followed, the tests performed, the information obtained and the conclusions reached pertinent to such accountant’s audit of the […]
Section 375.1052 – Temporary exemption, granted when — denial of, petition for hearing, procedures — schedule of compliance — effective date of requirements.
Effective – 01 Jan 2019, 2 histories 375.1052. Temporary exemption, granted when — denial of, petition for hearing, procedures — schedule of compliance — effective date of requirements. — 1. Upon written application of any insurer, the director may grant a temporary exemption from compliance with sections 375.1025 to 375.1062 if the director finds, upon […]
Section 375.1053 – Inapplicability of statute to foreign insurers — audit committee responsibilities, member qualifications — report required — waiver, when.
Effective – 01 Jan 2019, 2 histories 375.1053. Inapplicability of statute to foreign insurers — audit committee responsibilities, member qualifications — report required — waiver, when. — 1. This section shall not apply to foreign or alien insurers licensed in this state or an insurer that is a SOX-compliant entity or a direct or indirect […]
Section 375.1032 – Audited financial report, contents — form.
Effective – 28 Aug 2009 375.1032. Audited financial report, contents — form. — 1. The annual audited financial report shall report the financial condition of the insurer as of the end of the most recent calendar year and the results of its operation, cash flows and changes in capital and surplus for the previous year […]
Section 375.1025 – Definitions.
Effective – 01 Jan 2019, 2 histories 375.1025. Definitions. — As used in sections 375.1025 to 375.1062, the following terms shall mean: (1) “Accountant” or “independent certified public accountant”, an independent certified public accountant or accounting firm in good standing with the American Institute of Certified Public Accountants and in all states in which they […]
Section 375.1028 – Applicability — exemptions.
Effective – 28 Aug 2009 375.1028. Applicability — exemptions. — 1. Sections 375.1025 to 375.1062 shall apply to all insurers as defined by section 375.1025. Insurers having direct premiums written in this state of less than one million dollars in any calendar year and less than one thousand policyholders or certificate holders of direct written […]
Section 375.1030 – Annual audit required, report filed, when — extensions granted, when — audit committee required, when.
Effective – 28 Aug 2009 375.1030. Annual audit required, report filed, when — extensions granted, when — audit committee required, when. — 1. All insurers shall have an annual audit by an independent certified public accountant and shall file an audited financial report with the director on or before June first for the year ended […]