Haw. Code R. § 16-17-12 - Availability and retention of work papers of the independent certified public accountant
(a) Each captive
shall require its independent certified public accountant to make available for
review by the commissioner or appointed agent work papers prepared in the
conduct of the annual statement and the audit of the captive. The captive shall
require that the independent certified public accountant retain the audit work
papers for a period of not less than seven years after the period being
reported.
(b) The review conducted
in subsection (a) shall be considered an investigation, and all work papers
obtained during the course of that investigation shall be confidential in
accordance with the captive insurance code. The captive shall require that the
independent certified public accountant provide photocopies of any and all work
papers that the commissioner deems relevant. The commissioner may retain these
copies.
(c) As used in this
section, "work papers" include, but are not limited to, schedules, analyses,
reconciliations, abstracts, memoranda, narratives, flow charts, copies of
company records, or other documents prepared or obtained by the independent
certified public accountant in the conduct of the examination of the captive.
Notes
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