Nev. Admin. Code § 694C.230 - Availability and maintenance of work papers of independent certified public accountant
1. A captive
insurer shall ensure that its independent certified public accountant makes
available for review by the Commissioner or a designee thereof the work papers
of the accountant prepared in the conduct of the audit of the captive insurer.
The captive insurer shall ensure that the accountant retains the audit work
papers for not less than 5 years after the period reported upon in the
audit.
2. A review by the
Commissioner of the work papers of an independent certified public accountant
is considered to be an examination of the captive insurer, and all work papers
obtained during the course of such an examination are confidential. The captive
insurer shall ensure that the independent certified public accountant provides
to the Division of Insurance of the Department of Business and Industry
photocopies of any of the work papers which the Division considers relevant.
The Division may retain any copies of work papers provided to it pursuant to
this subsection.
Notes
NRS 679B.130, 694C.170, 694C.400
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