Michigan Compiled Laws
218-1956-10 - Chapter 10 Annual Audited Financial Reports (500.1001...500.1033)
Section 500.1025 - Canadian and British Insurers; Annual Audited Financial Report; Contents of Independent Public Accountant's Letter.

Sec. 1025.
(1) For Canadian and British insurers, the annual audited financial report is the annual statement of total business, on the form filed by those companies with their domiciliary supervision authority, and duly audited by an independent chartered accountant.
(2) For insurers listed in subsection (1), the independent public accountant's letter required in section 1009 shall state that the independent public accountant is aware of the requirements relating to the annual audited statement filed with the commissioner pursuant to section 1005 and shall affirm that the opinion expressed is in conformity with those requirements.
History: Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992 Popular Name: Act 218

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 500 - Insurance Code of 1956

Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)

218-1956-10 - Chapter 10 Annual Audited Financial Reports (500.1001...500.1033)

Section 500.1001 - Definitions.

Section 500.1003 - Nonapplicability of Chapter.

Section 500.1005 - Insurer; Annual Audit; Filing Date; Extensions; Designation of Audit Committee.

Section 500.1007 - Annual Audited Financial Report; Contents; Form; Conduct of Examination by Independent Public Accountant.

Section 500.1009 - Insurer Required to File Annual Audited Report; Registration of Insurer's Independent Public Accountant; Letter Required; Dismissal or Resignation of Independent Public Accountant; Notice; Report of Disagreement; Responsive Letter.

Section 500.1010 - Recognition of Person or Firm as Independent Public Accountant; Mediation or Arbitration of Disputes; Limitation on Period of Service; Relief From Rotation Requirement; Restrictions; Hearing; Ruling by Commissioner; Exemption From...

Section 500.1011 - Audited Consolidated or Combined Financial Statements; Application for Filing; Work Sheet.

Section 500.1015 - Independent Public Accountant; Reporting Determination That Insurer Materially Misstated Financial Condition or Does Not Meet Requirements of MCL 500.408 or MCL 500.410; Liability; Action to Be Taken After Date of Audited Financial...

Section 500.1017 - Independent Public Accountant; Communicating Unremediated Material Weaknesses; Description.

Section 500.1019 - Independent Public Accountant; Filing Letter With Annual Audited Financial Report; Contents.

Section 500.1021 - Work Papers; Availability; Retention; Review as Investigation; Use.

Section 500.1023 - Compliance With Chapter; Exemption; Filing Reports on Other Than Calendar Year Basis; Compliance by Domestic Insurers; Schedule; Compliance by Foreign Insurers.

Section 500.1025 - Canadian and British Insurers; Annual Audited Financial Report; Contents of Independent Public Accountant's Letter.

Section 500.1027 - Applicability of Section to Domestic Insurer Not Sox Compliant Entity; Duties of Audit Committee; Member of Audit Committee as Independent; Election of Controlling Person; Report by Accountant; Reports Provided on Aggregate Basis;...

Section 500.1028 - Internal Audit Function; Exemption; Confidentiality; Report to Audit Committee.

Section 500.1029 - Director or Officer of Insurer; Prohibited Conduct.

Section 500.1031 - Report of Insurer's or Group of Insurers' Internal Control Over Financial Reporting; Requirements.

Section 500.1033 - Exemption From Any or All Provisions of Chapter.