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South Dakota Codified Laws
Title 58
Chapter 58-43
S.D. Codified Laws ch. 58-43
Independent Audit of Insurers
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58-43-1
Definition of terms.
58-43-1.1
Repealed
Repealed
58-43-2
Annual audit required--Filing audited financial report--Extension of filing date--Audit committee.
58-43-3
Foreign or alien insurers--Exemption.
58-43-4
Annual audited financial report--Contents.
58-43-5
Financial statements.
58-43-5.1
Examination of financial statements by accountant.
58-43-6
Registration of retained accountant--Letter of acknowledgment from accountant.
58-43-7
Notification of dismissal or resignation of insurer's accountant--Reporting disagreements.
58-43-8
Explanation of disagreements between insurer and accountant--Letters from both insurer and accountant to director.
58-43-9
Qualifications of accountant.
58-43-9.1
Disqualification of accountant.
58-43-9.2
Disqualification of accountant for services provided contemporaneously with audit.
58-43-9.3
Exemption from disqualification provisions of § 58-43-9.2.
58-43-9.4
Services which do not disqualify accountant--Audit committee preapproval.
58-43-9.5
Preapproval of auditing and nonaudit services by audit committee--SOX compliant entities.
58-43-9.6
Delegation of preapproval duties.
58-43-9.7
Disqualification of accountant due to previous employment of partner or senior manager of insurer--Relief from requirement.
58-43-10
Rotation of accountant--Application for relief from rotation requirement.
58-43-11
Rejection of accountant or audited financial report--Grounds.
58-43-12
Disqualification hearing.
58-43-13
Application to file consolidated or combined financial statements--Worksheet--Contents.
58-43-14
Report of material misstatement of financial condition or that capital and surplus requirements not met--Time limit--Liability of accountant.
58-43-15
Accountant's action upon awareness of new facts subsequent to filing audited report.
58-43-16
Written communication as to unremediated material weaknesses in internal controls over financial reporting.
58-43-16.1
Applicability of §§ 58-43-16.2 to 58-43-16.9.
58-43-16.2
Responsibilities of audit committee.
58-43-16.3
Membership of audit committee.
58-43-16.4
Independence of audit committee members.
58-43-16.5
Nonindependence of audit committee member for reasons outside the member's control.
58-43-16.6
Election of controlling person to designate audit committee.
58-43-16.7
Report of accountant to audit committee.
58-43-16.8
Report of accountant where insurer is member of holding company system.
58-43-16.9
Criteria for proportion of audit committee members.
58-43-16.10
Hardship waiver of requirements of §§ 58-43-16.2 to 58-43-16.9, inclusive.
58-43-16.11
Materially false or misleading statements or omissions to accountant prohibited.
58-43-16.12
Coercion, manipulation, or fraudulent influence of accountant prohibited.
58-43-16.13
Management's Report of Internal Control over Financial Reporting required of certain insurers.
58-43-16.14
Circumstances under which director may require Management's Report of Internal Control over Financial Reporting.
58-43-16.15
Certain insurers required to file Section 404 report and addendum.
58-43-16.16
Contents of Management's Report of Internal Control over Financial Reporting.
58-43-16.17
Documentation of assertions made in Management's Report of Internal Control over Financial Reporting.
58-43-16.18
Discretion of management as to internal control framework and documentation.
58-43-16.19
Confidentiality of Management's Report of Internal Control over Financial Reporting and documentation.
58-43-16.20
Compliance of insurers retaining independent accountant on July 1, 2009.
58-43-16.21
Compliance schedule for insurers not retaining independent accountant on July 1, 2009.
58-43-16.22
Compliance of foreign insurers.
58-43-16.23
Applicability of §§ 58-43-10 and 58-43-16.2 to 58-43-16.10.
58-43-16.24
Applicability of §§ 58-43-16.13 to 58-43-16.19.
58-43-16.25
Internal audit function requirements.
58-43-16.26
Internal audit function to be organizationally independent.
58-43-16.27
Report of head of internal audit function to audit committee.
58-43-16.28
Member of insurance holding company system or group of insurers.
58-43-16.29
Exemption from internal audit function requirements.
58-43-17
Letter from accountant stating accountant's independent status, background, compliance with chapter and licensing.
58-43-18
Workpapers.
58-43-19
Availability of workpapers and communications related to audit between insurer and accountant--Confidentiality of documents.
58-43-20
Hardship exemption--Hearing.
58-43-21
Compliance with chapter for year ending December 31, 1993--Foreign insurer for 1994.
58-43-22
Application to Canadian and British insurers.
58-43-23
Fine, suspension, or revocation of license for violation.
58-43-24
Promulgation of rules by director.
58-43-25
Application of chapter.
58-43-26
Dispute resolution by mediation or arbitration.