California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 2.3 - Capital Access Companies
Article 10 - Reports to the Commissioner
Section 280.601 - Change of Independent Accountant

Whenever the filing of financial statements required pursuant to Section 28501 are to be reported upon or certified by an accountant other than the accountant certifying the licensee's most recent filing, the licensee must furnish the Commissioner with a separate letter stating whether in the eighteen (18) months preceding the engagement of the new accountants there was any disagreement with the former accountants on any matter of accounting principles or practices, financial statement disclosure or auditing procedures, which such disagreement if not resolved to the satisfaction of the former accountants would have caused him to make reference to the subject matter of such disagreement in his opinion or report. This letter must be verified by a principal officer of the licensee. The licensee shall also request the former accountants to furnish them with a letter addressed to the Commissioner stating whether he or she agrees with the statements contained in the letter of the licensee and, if not, stating the respects in which he or she does not agree. The notification by the licensee along with the former accountant's letter, if necessary, must be furnished to the Commissioner within 45 days of the engagement of the new accountants.

1. New section filed 6-24-99; operative 7-1-99 pursuant to Government Code section 11343.4(d) (Register 99, No. 26).

Note: Authority cited: Sections 28500 and 28951, Corporations Code. Reference: Section 28501, Corporations Code.