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Code of Colorado Regulations eDocket
Official Publication of the State Administrative Rules (24-4-103(11) C.R.S.)

Details of Tracking Number  2009-00973


CCR details

Tracking Number 2009-00973
Type of Filing Permanent Rule
Department 700 Department of Regulatory Agencies
Agency 702 Division of Insurance
CCR Number 3 CCR 702-3
CCR Title FINANCIAL ISSUES

Proposed rule

Notice Filed with SOS 09/30/2009
Rule ProposedRuleAttach2009-00973.DOC
Statutory Authority 10-1-108(7), 10-1-109, 10-1-203. 10-3-109, 10-3-118, 10-3-208, 10-5-117, 10-6-114, 10-6-129, 10-14-505, 10-14-602, 10-16-109, 10-16-111 and 8-45-12
Description of Subjects/Issues CONCERNING ANNUAL AUDITED FINANCIAL REPORTS
Purpose/Objective of Rule The purpose of this regulation is to improve the Division?s surveillance of the financial condition of companies by requiring: (1) an annual audit of financial statements reporting the financial position and the results of operations of companies by independent certified public accountants, (2) Communication of Internal Control Related Matters Noted in an Audit, and (3) Management?s Report of Internal Control over Financial Reporting. This regulation shall not prohibit, preclude or in any way limit the Commissioner from ordering or conducting or performing examinations of companies under the rules and regulations of the Division and the practices and procedures of the Division
Comments Tanya Light
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation?
Hearing Date 11/04/2009
Hearing Time 02:00 PM
Hearing Location 1560 Broadway, Ste 850, Denver CO, 80202, conf. rm. B
Contact Name Christine Gonzales-Ferrer
Contact Title Compliance Assistant
Contact Telephone 303-894-2157
Contact email christine.gonzales-ferrer@dora.state.co.us

Adopted rule

Adopted Rules AdoptedRules02009-00973.DOC
Redline Redline2009-00973.DOC
Adopted Date 11/13/2009
AGO requested date 11/13/2009
Attorney General Opinion 11/25/2009
Effective Date 01/01/2010
Inserted into CCR 12/29/2009