Title 58, INSURANCE

The disagreements required in § 58-43-7 to be reported include both those resolved to the former accountant's satisfaction and those not resolved to the former accountant's satisfaction. Disagreements contemplated by this section are those that occur at the decision - making leve…

An accountant shall be recognized as qualified as long as the accountant conforms to the standards of the profession, as contained in the Code of Professional Ethics of the American Institute of Certified Public Accountants and the requirements of chapter 36-20B and rules promulg…

No person or firm may be recognized as a qualified independent certified public accountant if the person or firm: (1) Is not in conformity with the Code of Professional Ethics of the American Institute of CPA's and in all states in which the accountant is licensed to practice, or…

The director may not recognize as a qualified independent certified public accountant, nor accept an annual audited financial report, prepared in whole or in part by an accountant who provides to an insurer, contemporaneously with the audit, the following nonaudit services: (1) B…

Any insurer having direct written and assumed premiums of less than one hundred million dollars in any calendar year may request an exemption from the provisions of § 58-43-9.2 . The insurer shall file with the director a written statement discussing the reasons why the insurer s…

A qualified independent certified public accountant who performs the audit may engage in other nonaudit services, including tax services, that are not described in or that do not conflict with the provisions of § 58-43-9.2 , only if the activity is approved in advance by the audi…

Any auditing services or nonaudit services provided to an insurer by the qualified independent certified public accountant of the insurer shall be preapproved by the audit committee. This preapproval requirement is waived with respect to nonaudit services if the insurer is a SOX …

The audit committee may delegate to one or more designated members of the audit committee the authority to grant the preapprovals required by the provisions of § 58-43-9.5 . The decisions of any member to whom this authority is delegated shall be presented to the full audit commi…

The director may not recognize an independent certified public accountant as qualified for a particular insurer if a member of the board, president, chief executive officer, controller, chief financial officer, chief accounting officer, or any person serving in an equivalent posi…