Section 3.21.745. Accountant's letter of qualifications.

The independent certified public accountant shall furnish to the insurer for submission with the annual audited financial report a letter stating  
		(1) that the accountant is independent with respect to the insurer and conforms to the standards of the accountant's profession as contained in  
			(A) the Code of Professional Conduct and pronouncements of the American Institute of Certified Public Accountants; and  
			(B) rules of professional conduct adopted by the board of public accountancy of the state in which the certified public accountant is licensed;  
		(2) the background and experience in general, and the experience in audits of insurers, of the staff assigned to the engagement and whether each staff member is an independent certified public accountant;  
		(3) that the accountant understands that the  
			(A) annual audited financial report and opinion with respect to that report are in compliance with the laws of this state; and  
			(B) director will be relying on the report and opinion in monitoring and regulating the financial position of the insurer;  
		(4) that the accountant  
			(A) consents to the requirements of 3 AAC 21.750 regarding audit work papers; and  
			(B) agrees to make available for review by the director or the director's designee the work papers under 3 AAC 21.750;  
		(5) that the accountant  
			(A) holds the proper professional license by an appropriate state licensing authority; and  
			(B) is a member in good standing in the American Institute of Certified Public Accountants; and  
		(6) that the accountant meets the qualifications and requirements of 3 AAC 21.720.  

Authorities

21.06.060;21.06.090;21.09.200

Notes

Authority

AS 21.06.060 AS 21.06.090 AS 21.09.200 Editor's note: The Code of Professional Conduct and pronouncements of the American Institute of Certified Public Accountants may be obtained from the American Institute of Certified Public Accountants' website at http://www.aicpa.org.

History

Eff. 8/31/2008, Register 187