2008 House Bill 5722 ↩

Senate Roll Call 726: Passed

To prohibit insurance companies’ audits from being performed by an accounting firm with which the insurer has an “indemnification agreement” that absolves the accountant from liability for failure to adhere to applicable auditing or professional standards. The bill would also impose a duty on auditors to act in accordance with accounting association standards should they later discover facts that might have affected their report.