Idaho Admin. Code r. 02.02.13.300 - FINANCIAL STATEMENT
01.
Financial
Statements. In order to obtain a commodity dealer 's license, the
applicant shall submit a current financial statement prepared not more than
ninety (90) days prior to the date of application and conform to the applicable
requirements of Title 69, Chapter 5, Idaho Code, as to annual financial
statements. (3-15-22)
02.
Statement Compliance. Each licensed commodity dealer shall submit
to the Department an annual financial statement that has been audited or
reviewed by an independent certified public accountant or independent licensed
public accountant. The statement shall be submitted to the Department no later
than ninety (90) days after the end of the commodity dealer 's fiscal year. The
commodity dealer license may be suspended or revoked for failure to comply with
licensing requirements stated in Subsection
300.01 of these rules and
Section(s) 69-503(6) and 69-521, Idaho Code. (3-15-22)
a. The Department may grant an extension of
no more than sixty (60) days, provided cause of an exceptional nature is
provided, in writing, to the Department. (3-15-22)
b. The request must be made by a certified
public accountant or a licensed public accountant. (3-15-22)
c. The request is made prior to the date the
financial statement is due. (3-15-22)
d. The director may make exceptions to the
financial statement requirements provided sufficient cause is provided and to
do so would be in the best interest of the state. (3-15-22)
03.
Statement Content. The
statement shall include: (3-15-22)
a. A
balance sheet. (3-15-22)
b. An
income statement that includes annual gross sales of commodities purchased from
producers covered under the act. (3-15-22)
c. A statement of cash flows.
(3-15-22)
d. All accompanying notes
to the financial statement. (3-15-22)
Notes
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