For inclusion with the audited financial report the accountant furnishes a letter stating that it is independent of the insurer and conforms to the AICPA Code of Professional Ethics and the State accountancy board's rules; describing the background and experience of the engagement staff, their experience in insurer audits and whether each is an independent CPA; acknowledging that the report and opinion will be filed under the regulation and relied on by the commissioner in monitoring the insurer; consenting to the section 13 work paper requirements and to letting the commissioner or a designee review the work papers; representing that the accountant is properly licensed and a member in good standing of the AICPA; and representing compliance with the section 7 qualification requirements.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.