Florida Regulations 69K-6.0052: Examination Work Papers
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(1) A licensed entity shall prepare and provide accurate work papers to the Department for the purpose of an examination.
(2) Work papers provided by the company shall include at least the following information for each contract:
(a) Sequentially ordered contract number;
(b) Contract type (i.e., void or cancelled);
(c) Date of contract;
(d) Payments received during examination period;
(e) Total trust liability;
(f) Trust liability percentage;
(g) Prior liability accrual;
(h) Current examination liability accrual;
(i) Prior total withdrawals from Trust; and
(j) Current withdrawals from Trust.
Paragraphs (2)(d) and (2)(f) may be provided on the accounts receivable records, as separate identifiable entries, in lieu of the work papers. For the purposes of this rule, trust liability and accruals should be detailed by trust funds as applicable (i.e., Care and Maintenance, Merchandise, Preneed, Preconstruction, and Special Care).
(3) Current examination work papers shall include all new contracts written during the examination period and all contracts written in prior examination period with transactional activity and/or trust liability remaining to be accrued. Work papers should include page totals for all applicable items and a grand total.
(4) Work papers that are not substantially similar in form to Examination Workpapers, Form DFS-EW-1, which is incorporated by reference in Fl. Admin. Code R. 69K-1.001, shall be submitted for approval to the Division of Funeral, Cemetery, and Consumer Services, Department of Financial Services, 200 East Gaines Street, Tallahassee, Florida 32399-0361. Such format shall have a reasonable audit trail that can be followed.
(5) This rule is applicable to all contracts written under Sections 497.458, 497.268, 497.272 and 497.464, F.S., on or after October 1, 1993.
(6) The Department shall give the licensee at least 45 days notice of the scheduled examination to provide sufficient time for the work papers preparation.
Rulemaking Authority 497.103(1)(n), (u), (5)(a), 497.161(1)(c), 497.276(3) FS. Law Implemented 497.268, 497.272, 497.276, 497.458, 497.464 FS. History-New 8-16-98, Amended 1-1-99, Formerly 3F-6.0052, Amended 12-27-11.
Terms Used In Florida Regulations 69K-6.0052
- Contract: A legal written agreement that becomes binding when signed.
(a) Sequentially ordered contract number;
(b) Contract type (i.e., void or cancelled);
(c) Date of contract;
(d) Payments received during examination period;
(e) Total trust liability;
(f) Trust liability percentage;
(g) Prior liability accrual;
(h) Current examination liability accrual;
(i) Prior total withdrawals from Trust; and
(j) Current withdrawals from Trust.
Paragraphs (2)(d) and (2)(f) may be provided on the accounts receivable records, as separate identifiable entries, in lieu of the work papers. For the purposes of this rule, trust liability and accruals should be detailed by trust funds as applicable (i.e., Care and Maintenance, Merchandise, Preneed, Preconstruction, and Special Care).
(3) Current examination work papers shall include all new contracts written during the examination period and all contracts written in prior examination period with transactional activity and/or trust liability remaining to be accrued. Work papers should include page totals for all applicable items and a grand total.
(4) Work papers that are not substantially similar in form to Examination Workpapers, Form DFS-EW-1, which is incorporated by reference in Fl. Admin. Code R. 69K-1.001, shall be submitted for approval to the Division of Funeral, Cemetery, and Consumer Services, Department of Financial Services, 200 East Gaines Street, Tallahassee, Florida 32399-0361. Such format shall have a reasonable audit trail that can be followed.
(5) This rule is applicable to all contracts written under Sections 497.458, 497.268, 497.272 and 497.464, F.S., on or after October 1, 1993.
(6) The Department shall give the licensee at least 45 days notice of the scheduled examination to provide sufficient time for the work papers preparation.
Rulemaking Authority 497.103(1)(n), (u), (5)(a), 497.161(1)(c), 497.276(3) FS. Law Implemented 497.268, 497.272, 497.276, 497.458, 497.464 FS. History-New 8-16-98, Amended 1-1-99, Formerly 3F-6.0052, Amended 12-27-11.