Iowa Admin. Code r. 191-113.9

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 191-113.9 - Consolidated or combined audits

A company may make written application to the commissioner for approval to submit a consolidated annual audit in lieu of separate annual audits if the company is part of a group of entities that consolidates its annual audit. In such cases, a consolidating or combining worksheet shall be prepared with the annual audit as follows:

(1) Amounts for each captive company subject to this subrule shall be stated separately.

(2) Noninsurance operations may be shown on the worksheet on a combined or individual basis.

(3) Explanations of consolidating and eliminating entries shall be included.

(4) A reconciliation shall be included of any differences between the amounts shown in the individual captive company columns of the worksheet and comparable amounts shown on the annual reports of such captive companies.

Iowa Admin. Code r. 191-113.9

Adopted by IAB April 17, 2024/Volume XLVI, Number 21, effective 5/22/2024