Ga. Comp. R. & Regs. R. 120-2-60-.12 - Accountant's Letter of Qualifications
The accountant shall furnish the insurer in connection with, and for inclusion in, the filing of the annual Audited financial report, a letter stating:
(a) That the accountant
is independent with respect to the insurer and conforms to the standards of his
or her profession as contained in the Code of Professional Ethics and
pronouncements of the AICPA and the Rules of Professional Conduct of the
Georgia Board of Public Accountancy, or similar code;
(b) The background and experience in general,
and the experience in audits of insurers of the staff assigned to the
engagement and whether each is an independent certified public accountant.
Nothing within this rule shall be construed as prohibiting the accountant from
utilizing such staff as he or she deems appropriate where use is consistent
with the standards prescribed by generally accepted auditing
standards;
(c) That the accountant
understands the annual Audited financial report and his or her opinion thereon
will be filed in compliance with this rule and that the Commissioner will be
relying on this information in the monitoring and regulation of the financial
position of insurers;
(d) That the
accountant consents to the requirements of
120-2-60-.13 and that the
accountant consents and agrees to make available for review by the
Commissioner, or the Commissioner's designee or appointed agent, the workpapers
as defined in
120-2-60-.13;
(e) A representation that the accountant is
properly licensed by an appropriate state licensing authority and is a member
in good standing in the AICPA; and
(f) A representation that the accountant is
in compliance with the requirements of
120-2-60-.07 of this
regulation.
Notes
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