Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2780 - WORKERS' COMPENSATION SELF-INSURANCE
GROUP SELF-INSURER'S FUND
Part 2780.4400 - ANNUAL AUDIT

Universal Citation: MN Rules 2780.4400
Current through Register Vol. 49, No. 13, September 23, 2024

The accounts and records of the group self-insurer's fund shall be audited annually. Audits shall be made by certified public accountants, based on generally accepted accounting principles and generally accepted auditing standards, and supported by actuarial review and opinion of the future contingent liabilities, in order to determine the solvency of the self-insurer's fund. All audits required by this part shall be filed with the commissioner 90 days after the close of the fiscal year for the group self-insurer. The commissioner may require a special audit to be made at other times if the financial stability of the fund or the adequacy of its monetary reserves is in question.

Statutory Authority: MS s 176.181

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