Okla. Admin. Code § 365:25-7-108 Scope of Audit and Report of Independent Certified Public Accountant

• Library: Oklahoma Administrative Code
• Edition: 2023
• Currency: Current through Vol. 41, No. 7, December 15, 2023
• Citation: Okla. Admin. Code § 365:25-7-108
• Year: 2023

Financial statements furnished pursuant to O.A.C. 365:25-7-104 shall be examined by the independent certified public accountant. The audit of the insurer's financial statements shall be conducted in accordance with generally accepted auditing standards. In accordance with AU Section 319 of the Professional Standards of the AICPA, Consideration of Internal Control in a Financial Statement Audit, the independent certified public accountant should obtain an understanding of internal control sufficient to plan the audit. To the extent required by AU 319, for those insurers required to file a Management's Report of Internal Control over Financial Reporting pursuant to 365:25-7-116, the independent certified public accountant should consider (as that term is defined in Statement on Auditing Standards (SAS) No. 102, Defining Professional...