2013 South Dakota Codified Laws
Title 58 - INSURANCE
Chapter 43 - Independent Audit Of Insurers
§ 58-43-16.7 Report of accountant to audit committee.
58-43-16.7. Report of accountant to audit committee. The audit committee shall require the accountant that performs for an insurer any audit required by this chapter to report in a timely manner to the audit committee in accordance with the requirements of SAS 61, Communication with Audit Committees, as of January 1, 2009, including:
(1) All significant accounting policies and material permitted practices;
(2) All material alternative treatments of financial information within statutory accounting principles that have been discussed with management officials of the insurer, ramifications of the use of the alternative disclosures and treatments, and the treatment preferred by the accountant; and
(3) Other material written communications between the accountant and the management of the insurer, such as any management letter or schedule of unadjusted differences.
Source: SL 2009, ch 271, § 22, eff. Jan. 1, 2010.
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