N.J. Admin. Code § 11:28-1.11

Current through Register Vol. 57, No. 1, January 6, 2025

Section 11:28-1.11 - Availability and maintenance of work papers of the independent certified public accountant

(a) Each captive shall require the independent certified public accountant to make available for review by the Commissioner or his or her appointed agent the work papers prepared in the conduct of the audit of the captive. The captive shall require that the accountant retain the audit work papers for a period of not less than seven years after the period reported upon.

(b) The reviews by the Commissioner referenced in (a) above shall be considered investigations and all work papers obtained during the course of such investigations shall be confidential. The captive shall require that the independent certified public accountant provide portable document format (PDF) files of any of the work papers which the Department considers relevant. Such work papers may be retained by the Department and shall be confidential in accordance with N.J.S.A. 17:47B-2c.(3).