State Codes and Statutes
Statutes > Missouri > T24 > C375 > 375_1045Report of findings of accountant to insurer, contents.
375.1045. 1. The insurer required to furnish the annual auditedfinancial report shall require the independent certified public accountantto report, in writing, within five business days to the board of directorsor its audit committee any determination by the independent certifiedpublic accountant that the insurer has materially misstated its financialcondition as reported to the director as of the balance sheet datecurrently under audit or that the insurer does not meet the minimum capitaland surplus requirement of the law as of that date. An insurer who hasreceived a report pursuant to this subsection shall forward a copy of thereport to the director within five business days of receipt of such reportand shall provide the independent certified public accountant making thereport with evidence of the report being furnished to the director. If theindependent certified public accountant fails to receive such evidencewithin the required five-business-day period, the independent certifiedpublic accountant shall furnish to the director a copy of its report withinthe next five business days.
2. No independent public accountant shall be liable in any manner toany person for any statement made in connection with subsection 1 of thissection if such statement is made in good faith in compliance withsubsection 1 of this section.
3. If the accountant, subsequent to the date of the audited financialreport filed under sections 375.1025 to 375.1062, becomes aware of factswhich might have affected his or her report, such accountant is required totake such action as prescribed in the professional standards of theAmerican Institute of Certified Public Accountants.
(L. 1991 H.B. 385, et al. § 10, A.L. 2009 H.B. 577)
