Other than a Single-Parent International Insurance Company at least once every five (5) years and whenever the SAM determines it to be necessary, prudent, or in the best interests of the Territory, he or his designee shall inspect and examine the affairs of an International Insurance Company to ascertain its financial condition, its ability to fulfill its obligations and whether it complies with the rules and regulations established with reference to this chapter. The expenses and charges of the examination shall be reimbursed by the International Insurance Company to the Territory. In the case of Branch Exempt International Insurers, any such audit shall only be of the Virgin Islands entity and may utilize and incorporate findings of an audit of the parent company.