New Jersey Administrative Code
Title 3 - BANKING
Chapter 12 - REGISTRAR AND TRANSFER AGENTS
Subchapter 2 - REQUIRED REPORTING AND FILINGS WITH THE DEPARTMENT OF BANKING
Section 3:12-2.3 - Examination by a public accountant

Universal Citation: NJ Admin Code 3:12-2.3

Current through Register Vol. 56, No. 18, September 16, 2024

(a) The directors of a qualified corporation shall cause the examination of the qualified corporation's records by a certified public accountant or public accountant at least once in each calendar year. The scope of said examination shall include an inventory verification of unissued stock certificates and a confirmation of the last certificate number issued with the corporate issuer. The verifications and confirmations shall not be less than five percent of the accounts serviced or 10 corporate issuers, whichever is greater.

(b) The certified public accountant or public accountant shall render an opinion on the financial statement, the sufficiency of internal controls and the adequacy of the separation of functions.

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