Section 18.06.05.014 - INDEPENDENT AUDIT OR EXAMINATION01.Annual Independent Audit of MGA. An independent audit by a certified public accountant is conducted annually for MGAs currently under contract, and is to be contracted for by the insurer. The independent audit will include the following:a. Report of independent certified public accountant;d. Statement of cash flow;e. Statement of income and retained earnings;f. Notes on financial statements - these notes are those prescribed by General Accepted Accounting Principals; andg. A copy of a management letter or a narrative statement setting forth what would have been the content of the management letter had such letter been completed.02.Examination of MGA. The Department retains authority to examine an MGA notwithstanding the termination of the MGA's contractual authority. Pursuant to the provisions of Title 41, Chapter 2, Idaho Code, the expense of such examination is to be reimbursed to the Department by the insurer employing the MGA.Idaho Admin. Code r. 18.06.05.014