PocketLaw | US Virgin Islands Code | Annual Audit and Financial

Annual Audit and Financial Reporting

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Definitions

General requirements related to filing and extensions for filing of annual audited financial reports and audit committee appointment

Suspension or revocation for failure to file

Exemptions

Contents of annual audited financial report

Designation of independent certified public accountant

Qualifications of independent certified public accountant

Consolidated or combined audits

Scope of audit and report of independent certified public accountant

Notification of adverse financial condition

Communication of internal control related matters noted in an audit

Accountant’s letter of qualifications

Definition, availability and maintenance of independent certified public accountants work papers

Requirements for audit committees

Internal audit function requirements

Conduct of insurer in connection with the preparation of required reports and documents

Management’s report of internal control over financial reporting

Discretionary grant of exemptions and effective dates

Required filings for alien insurers

Severability provision