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2020 South Dakota Codified Laws
Title 58 - Insurance
Chapter 43 - Independent Audit Of Insurers
Section 58-43-16.25 - Internal audit function requirements.
Universal Citation: SD Codified L § 58-43-16.25 (2020)
58-43-16.25. Internal audit function requirements.
The insurer or group of insurers shall establish an internal audit function providing independent, objective, and reasonable assurance to the audit committee and insurer management regarding the insurer's governance, risk management, and internal controls. This assurance shall be provided by performing general and specific audits, reviews, and tests and by employing other techniques deemed necessary to protect assets, evaluate control effectiveness and efficiency, and evaluate compliance with policies and regulations.
Source: SL 2018, ch 283, ยง3.
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