14 Va. Admin. Code § 5-270-10

Current through Register Vol. 40, No. 22, June 17, 2024

Section 14VAC5-270-10 - Purpose

The purpose of this chapter is to improve the commission's surveillance of the financial condition of licensed companies by requiring (i) an annual audit of financial statements reporting the financial position and the results of operations of insurers by an independent certified public accountant, (ii) Communicating Internal Control Related Matters Identified in an Audit, and (iii) Management's Report of Internal Control over Financial Reporting.

14 Va. Admin. Code § 5-270-10

Derived from Regulation 39, Case No. INS910072, § 2, eff. September 1, 1991; amended, Virginia Register Volume 24, Issue 12, eff. January 1, 2010.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.