South Dakota Codified Laws 58-43-16.7. Report of accountant to audit committee
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;
Terms Used In South Dakota Codified Laws 58-43-16.7
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
(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.
Source: SL 2009, ch 271, § 22, eff. Jan. 1, 2010; SL 2015, ch 260, § 12.