Ala. Admin. Code r. 482-1-138-.07
Each company shall require the independent certified public accountant to make available for review by the commissioner or his appointed agent the work papers prepared in the conduct of the audit of the company. The company shall require that the accountant retain the audit work papers for a period of not less than five (5) years after the period reported upon. The aforementioned review by the commissioner shall be considered investigations and all work papers obtained during the course of such investigations shall be confidential. The company shall require that the independent certified public accountant provide photocopies of any of the work papers which the Department of Insurance considers relevant. These work papers may be retained by the Department. "Work Papers" as referred to in this rule include, but are not necessarily limited to, schedules, analyses, reconciliations, abstracts, memoranda, narratives, flow charts, copies of company records or other documents prepared or obtained by the accountant and his or her employees in the conduct of their examination of the company.
Author: Commissioner of Insurance
Ala. Admin. Code r. 482-1-138-.07
Statutory Authority:Code of Ala. 1975, §§ 27-2-17; 27-7-43, 27-31B-17.