Statutes, codes, and regulations
New York Codes, Rules and Regulations
Title 10 - DEPARTMENT OF HEALTHChapter II - Administrative Rules and RegulationsSubchapter R - Health Maintenance OrganizationsPart 98 - Health Maintenance Organizations
Subpart 98-3 - Managed Care Organizations Audited Financial Statements
Section 98-3.9 - Notification of adverse financial condition

N.Y. Comp. Codes R. & Regs. Tit. 10 §§ 98-3.9

Download
PDF
Current through Register Vol. 46, No. 41, October 9, 2024
Section 98-3.9 - Notification of adverse financial condition
(a) Every MCO required to furnish an annual audited financial report shall require the CPA to report, in writing, to the Commissioner, the board of directors and the MCO's audit committee within five business days of any determination by the CPA that the MCO has materially misstated its financial condition as reported to the Commissioner as of the balance sheet date currently under audit or that the MCO does not meet the contingent reserve requirement of 10 NYCRR 98-1.11(e).
(b) A MCO shall ensure that, if the CPA, subsequent to the date of the audited financial report filed pursuant to this regulation, becomes aware of facts that might have affected the report, the CPA acts in accordance with professional obligations imposed by the AICPA and PCAOB.

N.Y. Comp. Codes R. & Regs. Tit. 10 §§ 98-3.9

Adopted by New York State Register November 10, 2015/Volume XXXVII, Issue 45, eff. 11/10/2015