Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 26.00 - Annual Financial Reporting For Years Ending 2010 And After
Section 26.14 - Availability and Maintenance of Independent Certified Public Accountant Workpapers

Universal Citation: 211 MA Code of Regs 211.26
Current through Register 1531, September 27, 2024

Every insurer required to file an Audited financial report pursuant to 211 CMR 26.00 shall require the accountant to make available for review by the Commissioner or his or her appointed agent, all workpapers prepared in the conduct of the accountant's audit of the insurer, which shall include its parent and affiliates, as they relate to the audit of the insurer, and any communications related to the audit between the accountant and the insurer, at the offices of the insurer, at the Division or at any other reasonable place designated by the Commissioner. The insurer shall require that the accountant retain the audit workpapers and communications until the Division has filed a Report on Examination covering the period of the audit but no longer than seven years from the date of the audit report.

The aforementioned reviews by the Commissioner or his or her appointed agent shall be considered investigations and all workpapers and communications obtained during the course of such investigations shall be confidential as provided for under M.G.L. c. 175, § 4. The insurer shall require that the independent certified public accountant provide photocopies to the Division of any of the workpapers that the Division considers relevant, which may be retained by the Division.

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