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Code of Colorado Regulations eDocket
Details of Tracking Number
2016-00496
CCR details
| Tracking Number |
2016-00496 |
| 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 |
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Proposed rule
| Notice Filed with SOS |
09/30/2016 |
| Rule |
ProposedRuleAttach2016-00496.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 8-45-121 |
| Description of Subjects/Issues |
3-1-4 PROPOSED AMENDED REGULATION 3-1-4 CONCERNING A COMPANY’S ANNUAL AUDITED FINANCIAL REPORTS, AUDIT COMMITTEE AND INTERNAL CONTROL DEPARTMENT REQUIREMENTS
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. |
| 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. |
| Comments |
Carey Michal |
| Submitted in response to issues raised by COLS/OLLS? |
No
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| Is this rule adopted in response to recent legislation? |
No
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| Hearing Date |
10/31/2016 |
| Hearing Time |
02:00 PM |
| Hearing Location |
1560 Broadway, Ste 850, Denver CO 80202 |
| Contact Name |
Christine Gonzales-Ferrer |
| Contact Title |
Rulemaking Coordinator |
| Contact Telephone |
303-894-2157 |
| Contact email |
christine.gonzales-ferrer@state.co.us |
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Adopted rule
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