Independent Audit Of Insurers

  1. Law
  2. South Dakota Codified Laws
  3. Insurance
  4. Independent Audit Of Insurers

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Section
58-43-1

Definition of terms.

Section
58-43-1.1

Repealed.

Section
58-43-2

Annual audit required--Filing audited financial report--Extension of filing date--Audit committee.

Section
58-43-3

Foreign or alien insurers--Exemption.

Section
58-43-4

Annual audited financial report--Contents.

Section
58-43-5

Financial statements.

Section
58-43-5.1

Examination of financial statements by accountant.

Section
58-43-6

Registration of retained accountant--Letter of acknowledgment from accountant.

Section
58-43-7

Notification of dismissal or resignation of insurer's accountant--Reporting disagreements.

Section
58-43-8

Explanation of disagreements between insurer and accountant--Letters from both insurer and accountant to director.

Section
58-43-9

Qualifications of accountant.

Section
58-43-9.1

Disqualification of accountant.

Section
58-43-9.2

Disqualification of accountant for services provided contemporaneously with audit.

Section
58-43-9.3

Exemption from disqualification provisions of § 58-43-9.2.

Section
58-43-9.4

Services which do not disqualify accountant--Audit committee preapproval.

Section
58-43-9.5

Preapproval of auditing and nonaudit services by audit committee--SOX compliant entities.

Section
58-43-9.6

Delegation of preapproval duties.

Section
58-43-9.7

Disqualification of accountant due to previous employment of partner or senior manager of insurer--Relief from requirement.

Section
58-43-10

Rotation of accountant--Application for relief from rotation requirement.

Section
58-43-11

Rejection of accountant or audited financial report--Grounds.

Section
58-43-12

Disqualification hearing.

Section
58-43-13

Application to file consolidated or combined financial statements--Worksheet--Contents.

Section
58-43-14

Report of material misstatement of financial condition or that capital and surplus requirements not met--Time limit--Liability of accountant.

Section
58-43-15

Accountant's action upon awareness of new facts subsequent to filing audited report.

Section
58-43-16

Written communication as to unremediated material weaknesses in internal controls over financial reporting.

Section
58-43-16.1

Applicability of §§ 58-43-16.2 to 58-43-16.9.

Section
58-43-16.2

Responsibilities of audit committee.

Section
58-43-16.3

Membership of audit committee.

Section
58-43-16.4

Independence of audit committee members.

Section
58-43-16.5

Nonindependence of audit committee member for reasons outside the member's control.

Section
58-43-16.6

Election of controlling person to designate audit committee.

Section
58-43-16.7

Report of accountant to audit committee.

Section
58-43-16.8

Report of accountant where insurer is member of holding company system.

Section
58-43-16.9

Criteria for proportion of audit committee members.

Section
58-43-16.10

Hardship waiver of requirements of §§ 58-43-16.2 to 58-43-16.9, inclusive.

Section
58-43-16.11

Materially false or misleading statements or omissions to accountant prohibited.

Section
58-43-16.12

Coercion, manipulation, or fraudulent influence of accountant prohibited.

Section
58-43-16.13

Management's Report of Internal Control over Financial Reporting required of certain insurers.

Section
58-43-16.14

Circumstances under which director may require Management's Report of Internal Control over Financial Reporting.

Section
58-43-16.15

Certain insurers required to file Section 404 report and addendum.

Section
58-43-16.16

Contents of Management's Report of Internal Control over Financial Reporting.

Section
58-43-16.17

Documentation of assertions made in Management's Report of Internal Control over Financial Reporting.

Section
58-43-16.18

Discretion of management as to internal control framework and documentation.

Section
58-43-16.19

Confidentiality of Management's Report of Internal Control over Financial Reporting and documentation.

Section
58-43-16.20

Compliance of insurers retaining independent accountant on July 1, 2009.

Section
58-43-16.21

Compliance schedule for insurers not retaining independent accountant on July 1, 2009.

Section
58-43-16.22

Compliance of foreign insurers.

Section
58-43-16.23

Applicability of §§ 58-43-10 and 58-43-16.2 to 58-43-16.10 .

Section
58-43-16.24

Applicability of §§ 58-43-16.13 to 58-43-16.19.

Section
58-43-16.25

Internal audit function requirements.

Section
58-43-16.26

Internal audit function to be organizationally independent.

Section
58-43-16.27

Report of head of internal audit function to audit committee.

Section
58-43-16.28

Member of insurance holding company system or group of insurers.

Section
58-43-16.29

Exemption from internal audit function requirements.

Section
58-43-17

Letter from accountant stating accountant's independent status, background, compliance with chapter and licensing.

Section
58-43-18

Workpapers.

Section
58-43-19

Availability of workpapers and communications related to audit between insurer and accountant--Confidentiality of documents.

Section
58-43-20

Hardship exemption--Hearing.

Section
58-43-21

Compliance with chapter for year ending December 31, 1993--Foreign insurer for 1994.

Section
58-43-22

Application to Canadian and British insurers.

Section
58-43-23

Fine, suspension, or revocation of license for violation.

Section
58-43-24

Promulgation of rules by director.

Section
58-43-25

Application of chapter.

Section
58-43-26

Dispute resolution by mediation or arbitration.