Okla. Admin. Code § 365:25-7-104 Contents of Annual Audited Financial Report

• Library: Oklahoma Administrative Code
• Edition: 2023
• Currency: Current through Vol. 41, No. 7, December 15, 2023
• Citation: Okla. Admin. Code § 365:25-7-104
• Year: 2023

(a) The annual audited financial report shall report the financial position of the insurer as of the end of the most recent calendar year and the results of its operations, cash flows and changes in capital and surplus for the year then ended in conformity with statutory accounting practices prescribed, or otherwise permitted, by the Department of Insurance of the state of domicile.

(b) The annual Audited financial report shall include the following:

(1) Report of independent certified public accountant.

(2) Balance sheet reporting admitted assets liabilities, capital and surplus.

(3) Statement of operations.

(4) Statement of cash flow.

(5) Statement of changes in capital and surplus.

(6) Notes to financial statements. These notes shall be those required by the appropriate NAIC Annual Statement Instructions and the NAIC Accounting Practices and Procedures Manual. The notes shall include a reconciliation of differences, if any, between the audited statutory financial statements and the annual statement filed pursuant to 36 O.S. § 311 of the Oklahoma Insurance Code with a written description of the nature of these differences.

(7) The financial statements included in the audited financial report shall be...