Section 50.14. Availability and maintenance of CPA work papers.

 

(1)  An insurer shall require the accountant or accounting firm which conducts an audit or other procedure under this subchapter to make available for review all work papers and any communications related to the audit or procedure between the insurer and the accountant or accounting firm at the offices of the insurer or at a reasonable place designated by the commissioner. The insurer shall require that the accountant retain the audit work papers and communications until the commissioner has filed a report on examination covering the period of the audit but no longer than 7 years from the date of the audit report.

(2)  The commissioner may photocopy work papers and retain the copies. All working papers and communications obtained by the commissioner under this section may be treated by the commissioner as confidential under s. 601.465 , Stats.

History: Cr. Register, July, 1993, No. 451 , eff. 8-1-93; CR 08-053 : renum. from Ins 50.15 Register December 2008 No. 636 , eff. 1-1-09.