South Dakota § 58-43-16.7 Report of accountant to audit committee.

South Dakota Statutes

§ 58-43-16.7 — Report of accountant to audit committee.

South Dakota § 58-43-16.7

Title 58INSURANCE

Ch. 58-43INDEPENDENT AUDIT OF INSURERS

This text of South Dakota § 58-43-16.7 (Report of accountant to audit committee.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-43-16.7 (2026).

Text

The audit committee shall require the accountant that performs for an insurer any audit required by this chapter to report in a timely manner to the audit committee in accordance with the requirements of AU-C 260, The Auditor's Communication with Those Charged with Governance, as of January 1, 2015, including:

(1)All significant accounting policies and material permitted practices;

(2)All material alternative treatments of financial information within statutory accounting principles that have been discussed with management officials of the insurer, ramifications of the use of the alternative disclosures and treatments, and the treatment preferred by the accountant; and (3) Other material written communications between the accountant and the management of the insurer, such as any

Free access — add to your briefcase to read the full text and ask questions with AI

The audit committee shall require the accountant that performs for an insurer any audit required by this chapter to report in a timely manner to the audit committee in accordance with the requirements of AU-C 260, The Auditor's Communication with Those Charged with Governance, as of January 1, 2015, including: (1) All significant accounting policies and material permitted practices; (2) All material alternative treatments of financial information within statutory accounting principles that have been discussed with management officials of the insurer, ramifications of the use of the alternative disclosures and treatments, and the treatment preferred by the accountant; and (3) Other material written communications between the accountant and the management of the insurer, such as any management letter or schedule of unadjusted differences.