Oklahoma § 36-311A.15 - Unlawful misleading statements - Manipulating

§ 36-311A.15. Unlawful misleading statements - Manipulating

accountant.

A. No director or officer of an insurer shall, directly or

indirectly:

1. Make or cause to be made a materially false or misleading

statement to an accountant in connection with any audit, review, or

communication required under the Oklahoma Annual Financial Report

Act; or

2. Omit to state, or cause another person to omit to state, any

material fact necessary in order to make statements made, in light

of the circumstances under which the statements were made, not

misleading to an accountant in connection with any audit, review, or

communication required under the Oklahoma Annual Financial Report

Act.

B. No officer or director of an insurer, or any other person

acting under the direction thereof, shall directly or indirectly

take any action to coerce, manipulate, mislead, or fraudulently

influence any accountant engaged in the performance of an audit

pursuant to the Oklahoma Annual Financial Report Act if that person

knew or should have known that the action, if successful, could

result in rendering the financial statements of the insurer

materially misleading.

C. For purposes of subsection B of this section, actions that,

if successful, could result in rendering the financial statements of

the insurer materially misleading include, but are not limited to,

actions taken at any time with respect to the professional

engagement period to coerce, manipulate, mislead, or fraudulently

influence an accountant:

1. To issue or reissue a report on the financial statements of

an insurer that is not warranted in the circumstances due to

material violations of statutory accounting principles prescribed by

the Insurance Commissioner, generally accepted auditing standards,

or other professional or regulatory standards;

2. Not to perform audit, review or other procedures required by

generally accepted auditing standards or other professional

standards;

3. Not to withdraw an issued report; or

4. Not to communicate matters to the audit committee of an

insurer.

Oklahoma Statutes - Title 36. Insurance

Added by Laws 2009, c. 176, § 17, eff. Nov. 1, 2009.