Indiana Code 27-1-3.5-4. “Work papers”
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Sec. 4. (a) As used in this chapter, “work papers” means the records kept by the independent auditor of the procedures followed, the tests performed, the information obtained, and the conclusions reached by the independent auditor’s audit of the financial statements of a domestic insurer.
(1) are prepared or obtained by the independent auditor in the course of any audit of the financial statements of a domestic insurer; and
(b) The term includes any audit planning documentation, work programs, analyses, memoranda, letters of confirmation and representation, abstracts of company documents, and schedules or commentaries that:
Terms Used In Indiana Code 27-1-3.5-4
- domestic insurer: means an insurer organized under the laws of Indiana. See Indiana Code 27-1-3.5-2
- independent auditor: means a certified public accountant or a certified public accounting firm that conducts an annual audit of a domestic insurer as required by this chapter. See Indiana Code 27-1-3.5-3
- insurer: means a company, firm, partnership, association, order, society or system making any kind or kinds of insurance and shall include associations operating as Lloyds, reciprocal or inter-insurers, or individual underwriters. See Indiana Code 27-1-2-3
(2) support the independent auditor’s opinion on the domestic insurer’s financial statements.
As added by P.L.244-1989, SEC.2. Amended by P.L.251-1995, SEC.4.