Minnesota Administrative Rules

4685.1960 AUDITED REPORT.

The following sections of the NAIC Blank must be audited by a public accountant certified under Minnesota Statutes, section 326.19 and retained by the health maintenance organization for purposes other than performing day to day accounting operations:

A.

BALANCE SHEET ASSETS;

B.

BALANCE SHEET LIABILITIES AND NET WORTH;

C.

STATEMENTS OF REVENUE AND EXPENSES;

D.

STATEMENT OF CHANGES IN FINANCIAL POSITION AND NET WORTH; AND

E.

SUPPORTING SCHEDULES.

The certified public accountant shall state whether the audit was conducted according to generally accepted auditing standards, and shall express an opinion as to whether the sections audited are in conformity with generally accepted accounting principles applied on a consistent basis.

Statutory Authority:

MS s 62D.08; 62D.20; 62D.21

History:

10 SR 2159

Published Electronically:

October 11, 2007