Section 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. [Eff 5/13/91; am and comp 3/12/01] (Auth: HRS §§ 431:19-114, 431:19-115) (Imp: HRS §§ 431:19-102.5, 431:19-107, 431:19-108, 431:19-115)