210 Neb. Admin. Code, ch. 34, § 005

Current through September 17, 2024

Section 210-34-005 - Definitions

005.01 The definitions provided in Neb. Rev. Stat. § 44-1981 and Neb. Rev. Stat. § 44-19,108 apply for the purposes of this chapter.

005.02 Title insurance agency

Title insurance agency shall mean a business entity licensed by the Department of Insurance with a title insurance agent or agents appointed by the entity to act as the designated agent or agents of the entity and who are thereby responsible for the insurance related activities of the entity.

005.03 Audit sample or audit sampling

Audit sample or audit sampling shall mean samples selected based upon sampling guidelines established in the American Institute of Certified Public Accountants Audit and Accounting Guide - Audit Sampling as well as SAS 39 - Audit Sampling, the National Association of Insurance Commissioners Financial Condition Examiners Handbook, or the National Association of Insurance Commissioners Market Conduct Examiners Handbook. In the audit report, the auditor shall note the number of items selected for the audit sample and the reason(s) why that number was selected. The auditor shall select a sample which will give the auditor reasonable assurance the transactions and accounts are free from material errors.

210 Neb. Admin. Code, ch. 34, § 005