1. The annual audited financial report shall report the financial condition of the insurer as of the end of the most recent calendar year and the results of its operation, cash flows and changes in capital and surplus for the previous year ended in conformity with accounting practices prescribed, or otherwise permitted, by law or rule of the department of insurance of the state of domicile of the insurer.
2. The annual audited financial report shall include the following:
(1)Report of independent certified public accountant;
(2)Balance sheet reporting admitted assets, liabilities, capital and surplus;
(3)Statement of operations;
(4)Statement of cash flow;
(5)Statement of changes in capital and surplus;
(6)Notes to financial statements. These notes shall be those requi
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1. The annual audited financial report shall report the financial condition of the insurer as of the end of the most recent calendar year and the results of its operation, cash flows and changes in capital and surplus for the previous year ended in conformity with accounting practices prescribed, or otherwise permitted, by law or rule of the department of insurance of the state of domicile of the insurer.
2. The annual audited financial report shall include the following:
(1) Report of independent certified public accountant;
(2) Balance sheet reporting admitted assets, liabilities, capital and surplus;
(3) Statement of operations;
(4) Statement of cash flow;
(5) Statement of changes in capital and surplus;
(6) Notes to financial statements. These notes shall be those required by the appropriate National Association of Insurance Commissioners' Annual Statement Instructions and * the NAIC's Accounting Practices and Procedures Manual as adopted by the director and shall include a reconciliation of differences, if any, between the audited statutory financial statements and the annual statement filed pursuant to section 375.041 and section 354.105 , 354.435 , 376.350 , 377.100 , 377.380 , 378.350 , 379.105 , 380.051 or 380.482 , with a written description of the nature of these differences.
3. The financial statements included in the audited financial report shall be prepared in a form and using language and groupings substantially the same as the relevant sections of the annual statement of the insurer filed with the director, and the financial statement shall be comparative, presenting the amounts as of December thirty-first of the current year and the amounts as of the immediately preceding December thirty-first. However, in the first year in which an insurer is required to file an audited financial report, the comparative data may be omitted.