Haw. Code R. § 16-185-104 - Contents of annual audited financial report
The annual audited financial report shall report the financial position of the insurer as of the end of the most recent calendar year and the results of its operations, cash flows, and changes in capital and surplus for the year then ended in conformity with statutory accounting practices prescribed, or otherwise permitted, by the insurance division The annual audited financial report shall include the following:
(1) A report by an independent certified
public accountant;
(2) A balance
sheet reporting admitted assets, liabilities, capital, and surplus;
(3) A statement of operations;
(4) A statement of cash flow;
(5) A statement of changes in capital and
surplus;
(6) Notes to financial
statements. These notes shall be those required by the appropriate National
Association of Insurance Commissioners Annual Statement Instructions and the
National Association of Insurance Commissioners Accounting Practices and
Procedures Manual. The notes shall include a reconciliation of differences, if
any, between the audited statutory financial statements and the annual
statement filed pursuant to section
431:3-302,
HRS, and the annual statement filed pursuant to section
431:3-301,
HRS, with a written description of the nature of these differences;
and
(7) The financial statements
included in the audited financial report shall be prepared in a form and using
language and groupings substantially the same as the relevant sections of the
annual statement of the insurer filed with the commissioner, and the financial
statement shall be comparative, presenting the amounts as of December 31 of the
current year and the amounts as of the immediately preceding December 31. In
the first year in which an insurer is required to file an audited financial
report, however, the comparative data may be omitted.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.