South Dakota § 58-43-17 - Letter from accountant stating accountant's independent status, background, compliance with chapter and licensing.
Full text of South Dakota South Dakota Codified Laws § 58-43-17 — Letter from accountant stating accountant's independent status, background, compliance with chapter and licensing., with citation guidance and answers to common questions.
§ 58-43-17. Letter from accountant stating accountant's independent status, background, compliance with chapter and licensing.
The accountant shall furnish the insurer for inclusion in the filing of the annual audited financial report a letter stating:
(1) That the accountant is independent with respect to the insurer and conforms to the standards of his profession as contained in the Code of Professional Ethics and Pronouncements of the American Institute of Certified Public Accountants and to chapter 36-20A and rules promulgated under the chapter;
(2) The background and experience in general, and the experience in audits of insurers of the staff assigned to the engagement and whether each is an independent certified public accountant. Nothing in this section prohibits the accountant from utilizing the staff as he deems appropriate if such use is consistent with the standards prescribed by generally accepted auditing standards;
(3) That the accountant understands the annual audited financial report and his opinion thereon will be filed in compliance with this chapter and that the director will be relying on this information in the monitoring and regulation of the financial position of insurers;
(4) That the accountant consents to the requirements of §§ 58-43-18 and 58-43-19 and that the accountant consents and agrees to make available for review by the director, his designee or his appointed agent, the workpapers, as defined in §§ 58-43-18 and 58-43-19;
(5) A representation that the accountant is properly licensed by an appropriate state licensing authority and is a member in good standing in the American Institute of Certified Public Accountants;
(6) A representation that the accountant is in compliance with the requirements of §§ 58-43-9 to 58-43-12, inclusive, of this chapter.
Source: SL 1992, ch 357, § 17.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-43-17
What does South Dakota Codified Laws § 58-43-17 cover?
Section 58-43-17 ("Letter from accountant stating accountant's independent status, background, compliance with chapter and licensing.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-43-17?
A common citation format is "South Dakota Codified Laws § 58-43-17" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-43-17 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.