Minnesota Administrative Rules

2876.6052 ACCOUNTING PRINCIPLES.

All financial statements required by this chapter or by any official form of the administrator shall be prepared in accordance with generally accepted accounting principles unless otherwise permitted by rule or order.

Financial statements shall be audited by independent certified public accountants who shall express an opinion thereon, except where the particular form or this chapter permits the use of unaudited statements. Any financial statements prepared in accordance with the rules and requirements of the Securities and Exchange Commission shall satisfy the requirements of this part, provided, however, that the statements are audited by an independent certified public accountant who expresses an opinion thereon.

Statutory Authority:

MS s 45.023; 80A.82

History:

34 SR 593

Published Electronically:

November 23, 2009