§ 26-3-311 — Accountant's letter of qualifications

Wyoming § 26-3-311

• Jurisdiction: Wyoming
• Title 26: Insurance Code
• Ch. 3: AUTHORIZATION OF INSURERS AND

Text

(a) An accountant shall furnish the insurer in connection
with, and for inclusion in, the filing of the annual audited
financial report, a letter stating:
(i) That the accountant is independent with respect
to the insurer and conforms to the standards of his profession
as contained in the code of professional ethics and
pronouncements of the American Institute of Certified Public
Accountants and the rules of professional conduct of the Wyoming
board of certified public accountants, or similar code;
(ii) The background and experience in general, and
the experience in audits of insurers of the staff assigned to
the engagement and whether each is an independent certified
public accountant. Nothing within this article shall be
construed as prohibiting the accountant from utilizing staff as
he deems appropriate where use is consistent with the standards
prescribed by generally accepted auditing standards;
(iii) That the accountant understands the annual
audited financial report and his opinion on the report will be
filed in compliance with this article, and that the commissioner
will be relying on this information in the monitoring and
regulation of the financial position of insurers;
(iv) That the accountant consents to the requirements
of W.S. 26-3-312, and that the accountant consents and agrees to
make available for review by the commissioner, his designee or
his appointed agent, the workpapers, as defined in W.S.
26-3-312;
(v) A representation that the accountant is properly
licensed by an appropriate state licensing authority and is a
member in good standing in the American Institute of Certified
Public Accountants;
(vi) A representation that the accountant is in
compliance with the requirements of W.S. 26-3-306.