58-43-16.16. Contents of Management's Report of Internal Control over Financial Reporting.
A Management's Report of Internal Control over Financial Reporting shall include:
(1)A statement that management is responsible for establishing and maintaining adequate internal control over financial reporting;
(2)A statement that management has established internal control over financial reporting and an assertion, to the best of management's knowledge and belief, after diligent inquiry, as to whether its internal control over financial reporting is effective to provide reasonable assurance regarding the reliability of financial statements in accordance with statutory accounting principles;
(3)A statement that briefly describes the approach or processes by which management evaluated the effectiveness of its internal control over financial reporting;
(4)A statement that briefly describes the scope of work that is included and whether any internal controls were excluded;
(5)Disclosure of any unremediated material weaknesses in the internal control over financial reporting identified by management as of December thirty-first for the immediately preceding year. Management is not permitted to conclude that the internal control over financial reporting is effective to provide reasonable assurance regarding the reliability of financial statements in accordance with statutory accounting principles if there is one or more unremediated material weaknesses in its internal control over financial reporting;
(6)A statement regarding the inherent limitations of internal control systems; and
(7)Signatures of the chief executive officer and the chief financial officer (or equivalent position or title).
Source: SL 2009, ch 271, §31.