Indiana § 14-34-7-10 Report of public accounting consultant

Indiana Statutes

§ 14-34-7-10 — Report of public accounting consultant

Indiana·Art. 34 SURFACE COAL MINING AND RECLAMATION·Ch. 7 Self-Bonding

(a)An applicant shall submit, in addition to the financial information required under section 4 of this chapter, a report prepared by a qualified independent public accounting consultant selected from a list of public accounting consultants approved by the director. The director shall consider the information in the report when deciding whether to accept the self-bond of an applicant.

(b)The director may also require reports described in subsection (a) after the director accepts the applicant's self-bond, but not more than one (1) time every three (3) years while the self-bond is posted, except as provided in subsection (d).

(c)A consultant who prepares a report under this section must:

(1)verify that the financial information required under section 4 of this chapter was prepared in ac

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(a) An applicant shall submit, in addition to
the financial information required under section 4 of this chapter, a
report prepared by a qualified independent public accounting
consultant selected from a list of public accounting consultants
approved by the director. The director shall consider the information
in the report when deciding whether to accept the self-bond of an
applicant.
(b) The director may also require reports described in subsection (a)
after the director accepts the applicant's self-bond, but not more than
one (1) time every three (3) years while the self-bond is posted, except
as provided in subsection (d).
(c) A consultant who prepares a report under this section must:
(1) verify that the financial information required under section 4
of this chapter was prepared in accordance with generally
accepted accounting principles;
(2) verify that the accounting principles referred to in subdivision
(1) were applied consistently for each year of the period for which
the information is submitted;
(3) state the amount of, and reason for, any restatement of the
financial information referred to in subdivision (1) that is
necessary to meet the requirements of subdivision (2); and
(4) state whether any information reviewed during the preparation
of the report would lead the consultant to conclude that the
applicant would not meet the requirements of section 4 of this
chapter at the end of each of the three (3) fiscal years ending after
the calendar month in which the report is completed.
(d) If the consultant who prepares a report under this section is
unable to provide the information required by subsection (c)(4), the
applicant for whom the report is prepared shall submit an updated
report annually.
(e) An applicant shall submit a report required under this section not
later than ninety (90) days after the director notifies the applicant or
permittee that the report is required.
(f) If an applicant fails to submit a report required under subsection
(a), the director shall refuse to accept the self-bond of the applicant
until the applicant files the report.
(g) If a permittee who has posted a self-bond under this chapter fails
to submit a report required under subsection (b), the director may
require the permittee to post an alternate form of bond not later than
ninety (90) days after the deadline for the submission of the report.