(a)An insurer required to furnish an annual audited
financial report shall require the independent certified public
accountant to report, in writing, within five (5) business days
to the board of directors or its audit committee any
determination supported by adequate research conducted by the
independent certified public accountant:
(i)That the insurer has materially misstated its
financial condition reported to the commissioner as of the
balance sheet date currently under audit; or
(ii)That the insurer does not meet the minimum
capital and surplus requirement of this code as of that date.
(b)An insurer which has received a report pursuant to
subsection (a) of this section shall forward a copy of the
report to the commissioner within five (5) business days of
receipt of the report and
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(a) An insurer required to furnish an annual audited
financial report shall require the independent certified public
accountant to report, in writing, within five (5) business days
to the board of directors or its audit committee any
determination supported by adequate research conducted by the
independent certified public accountant:
(i) That the insurer has materially misstated its
financial condition reported to the commissioner as of the
balance sheet date currently under audit; or
(ii) That the insurer does not meet the minimum
capital and surplus requirement of this code as of that date.
(b) An insurer which has received a report pursuant to
subsection (a) of this section shall forward a copy of the
report to the commissioner within five (5) business days of
receipt of the report and shall provide the independent
certified public accountant making the report with evidence of
the report being furnished to the commissioner.
(c) Upon receiving the report from the insurer the
commissioner shall notify the independent certified public
accountant of his receipt of the report. The independent
certified public accountant shall furnish the commissioner with
a copy of the report within five (5) business days after the
insurer is required to forward the report to the commissioner,
unless the commissioner has previously acknowledged receipt of
the report from the insurer.
(d) Except for any act constituting negligence or
malpractice in the preparation of the annual audited financial
report specified in W.S. 26-3-304, no independent certified
public accountant shall be liable in any manner to any person
for any statement made in connection with subsection (a) of this
section if the statement is made in good faith in compliance
with subsection (a) of this section.
(e) If the accountant, subsequent to the date of the
audited financial report filed pursuant to this article, becomes
aware of facts which might have affected his report, the
accountant shall take the action prescribed in Volume 1, Section
AU 561 of the Professional Standards of the American Institute
of Certified Public Accountants, and other action as prescribed
by the commissioner by rule.