Title 31A Chapter 33 Section 110

Insurance Code
Workers' Compensation Fund
Section 110
Audits and examinations required.

            

31A-33-110.   Audits and examinations required.

            (1) (a) The Workers' Compensation Fund shall annually obtain an audit:

            (i) conducted in accordance with:

            (A) generally accepted auditing standards; and

            (B) government auditing standards; and

            (ii) by a national firm of certified public accountants.

            (b) The fund shall provide the audit performed under Subsection (1)(a) to the state auditor within 30 days of its completion.

            (2) (a) The insurance commissioner shall examine the Injury Fund according to the purposes and procedures provided in Sections 31A-2-203 through 31A-2-205 at least once every five years.

            (b) The chief executive officer shall pay the necessary expense of this examination from the Injury Fund.


Amended by Chapter 204, 1997 General Session