Skip to main content
Find a Lawyer

District of Columbia Code Division V. Local Business Affairs § 31-311.02. Conduct of insurer in connection with the preparation of required reports and documents.

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A director or officer of an insurer shall not, in connection with any audit, review, or communication required under this chapter, directly or indirectly:

(1) Make, or cause to be made, a materially false or misleading statements to an accountant; or

(2) Omit to state, or cause another person to omit to state, any material fact necessary to make a statement made to an accountant, in light of the circumstances under which they were made, not misleading.

(b)(1) A director or officer of an insurer, or any other person acting under the direction thereof, shall not, directly or indirectly, take any action to coerce, manipulate, mislead, or fraudulently influence any accountant engaged in the performance of an audit pursuant to this chapter if the person knew or should have known that the action, if successful, could result in rendering the insurer's financial statements materially misleading.

(2) For the purposes of this subsection, actions that could result in rendering the insurer's financial statements materially misleading include actions causing the accountant to:

(A) Issue or reissue a report on an insurer's financial statements that is not warranted under the circumstances due to material violations of statutory accounting principles, generally accepted auditing standards, or other professional or regulatory standards;

(B) Not perform audit, review, or other procedures required by generally accepted auditing standards or other professional standards;

(C) Not withdraw an issued report; or

(D) Not communicate matters to an insurer's audit committee.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - District of Columbia Code Division V. Local Business Affairs § 31-311.02. Conduct of insurer in connection with the preparation of required reports and documents. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-v-local-business-affairs/dc-code-sect-31-311-02/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard