375.1032. Audited financial report, contents--form.
Audited financial report, contents--form.
375.1032. 1. The annual audited financial report shall report thefinancial condition of the insurer as of the end of the most recentcalendar year and the results of its operation, cash flows and changes incapital and surplus for the previous year ended in conformity withaccounting practices prescribed, or otherwise permitted, by law or rule ofthe department of insurance of the state of domicile of the insurer.
2. The annual audited financial report shall include the following:
(1) Report of independent certified public accountant;
(2) Balance sheet reporting admitted assets, liabilities, capital andsurplus;
(3) Statement of operations;
(4) Statement of cash flow;
(5) Statement of changes in capital and surplus;
(6) Notes to financial statements. These notes shall be thoserequired by the appropriate National Association of InsuranceCommissioners' Annual Statement Instructions and* the NAIC's AccountingPractices and Procedures Manual as adopted by the director and shallinclude a reconciliation of differences, if any, between the auditedstatutory financial statements and the annual statement filed pursuant tosection 375.041 and section 354.105, 354.435, 376.350, 377.100, 377.380,378.350, 379.105, 380.051 or 380.482, RSMo, with a written description ofthe nature of these differences.
3. The financial statements included in the audited financial reportshall be prepared in a form and using language and groupings substantiallythe same as the relevant sections of the annual statement of the insurerfiled with the director, and the financial statement shall be comparative,presenting the amounts as of December thirty-first of the current year andthe amounts as of the immediately preceding December thirty-first.However, in the first year in which an insurer is required to file anaudited financial report, the comparative data may be omitted.
(L. 1991 H.B. 385, et al. § 5, A.L. 1992 H.B. 1574, A.L. 2009 H.B. 577)*Word "and" does not appear in original rolls.