FAQ | Hiking Red River Gorge
The audit committee of an entity that controls an RRG may be deemed to the satisfaction of the former accountant, would have caused him or her to . or that the RRG does not meet Vermont's minimum capital and surplus. rrb meet ppb and ppg meet rrg. By: Yayabeautii. they heard stories about them is the story they heard are true? or would they found out by they're self dark blue eyes instead of light blue blossom got up she said may i help u. affidavit on file, you may incorporate it by reference. Please do not Department will stamp the Articles and return them to you. .. RRG captive reinsurance agreements must meet the NAIC requirements (see Appendix E). 3.
At that stage we already started to receive messages from visitors to our website - www.
From November until April we stayed in touch discussing our potential co-operation which was then sealed with a hand shake and finalized during the MTA symposium in New York. From May to July we worked together on the implementation.
That period was nothing but professional "fun" and it resulted in a very good looking, and more importantly a very functional, implementation of Relative Rotation Graphs on their platform. It's always fun to work with programmers and see how they implement certain things slightly different than others but most of all how they can get carried away thinking of all the "stuff" they can do based off the RRG concept.
Pete Behmer, the programmer in charge of RRG on SCC, was no different and Chip told me he had to slow Pete down a few times because "otherwise we would still be playing and not have a product out for the users. At RRG Research we love to get feedback and learn from it or help you to get your questions answered.
So feel free to put up any questions or discussions in the forums or comment on any blog post, we are aiming to answer anything within 24 hours We are currently working on an article for ChartSchool that will explain in more detail how RRGs work and how they can be interpreted.
Until that article is complete, you can read the Instructions page here: Kind regards, Julius de Kempenaer About the author: Julius de Kempenaer is the creator of Relative Rotation Graphs.
This unique method to visualize relative strength within a universe of securities was first launched on Bloomberg professional services terminals in January and was released on StockCharts. A graduate of the Dutch Royal Military Academy and former captain in the Dutch Air Force, Julius first began his career in the financial industry in as a portfolio manager.
Can't wait for the explanation to come. David Fox July 23, at Chip has an outstanding group in programming design and implementation, and RRG is an incredibly useful asset and fun programming challenge.
I trust that your whole collaborative team behind this is having as much fun and success with it all as are we end users. Bud Riley July 24, at It's easy to use, and, provided new insights. An RRG may make application to the commissioner for relief from the above rotation requirement on the basis of unusual circumstances. This application should be made at least thirty 30 days before the end of the calendar year. The commissioner may consider the following factors in determining if the relief should be granted: The commissioner shall neither recognize as a qualified independent certified public accountant, nor accept an annual audited financial report, prepared in whole or in part by, a natural person who: Sections toor any dishonest conduct or practices under federal or state law; 2 Has been found to have violated the insurance laws of this state with respect to any previous reports submitted under this regulation; or 3 Has demonstrated a pattern or practice of failing to detect or disclose material information in previous reports filed under the provisions of this regulation.
The commissioner, after notice and hearing, may find that an independent certified public accountant is not qualified for purposes of expressing his or her opinion on the financial statements in the annual audited financial report made pursuant to this regulation and require the RRG to replace the accountant with another whose relationship with the RRG is qualified within the meaning of this regulation. Any hearing held shall be governed by the provisions of Ch. The principles are that the accountant cannot function in the role of management, cannot audit his or her own work, and cannot serve in an advocacy role for the RRG.
The RRG shall file with the commissioner a written statement discussing the reasons why the RRG should be exempt from these provisions. If the commissioner finds, upon review of this statement, that compliance with this regulation would constitute a financial or organizational hardship upon the RRG, an exemption may be granted. A qualified independent certified public accountant who performs the audit may engage in other non-audit services, including tax services, that are not described in Subsection G 1 or that do not conflict with Subsection G 2only if the activity is approved in advance by the Audit committee, in accordance with Subsection J.
All auditing services and non-audit services provided to an RRG by the qualified independent certified public accountant of the RRG shall be preapproved by the Audit committee. The audit committee may delegate to one or more designated members of the audit committee the authority to grant the preapprovals required by Subsection J.
The decisions of any member to whom this authority is delegated shall be presented to the full audit committee at each of its scheduled meetings. This section shall only apply to partners and senior managers involved in the audit. An RRG may make application to the commissioner for relief from the above requirement on the basis of unusual circumstances. In such cases, a columnar consolidating or combining worksheet shall be filed with the report, as follows: Amounts shown on the consolidated or combined Audited financial report shall be shown on the worksheet; B.
Amounts for each RRG subject to this section shall be stated separately; C. Noninsurance operations may be shown on the worksheet on a combined or individual basis; D.
Explanations of consolidating and eliminating entries shall be included; and E. A reconciliation shall be included of any differences between the amounts shown in the individual RRG columns of the worksheet and comparable amounts shown on the annual statements of the RRGs.
Scope of Audit and Report of Independent Certified Public Accountant Financial statements furnished pursuant to Section 5 shall be examined by the independent certified public accountant.
Consideration shall be given to the procedures illustrated in the Financial Condition Examiners Handbook promulgated by the National Association of Insurance Commissioners as the independent certified public accountant deems necessary. Notification of Adverse Financial Condition A.
Regulatory Review Group minutes: October - misjon.info
An RRG that has received a report pursuant to this paragraph shall forward a copy of the report to the commissioner within five 5 business days of receipt of the report and shall provide the independent certified public accountant making the report with evidence of the report being furnished to the commissioner.
If the independent certified public accountant fails to receive the evidence within the required five 5 business day period, the independent certified public accountant shall furnish to the commissioner a copy of its report within the next five 5 business days. No independent certified public accountant shall be liable in any manner to any person for any statement made in connection with the above paragraph if the statement is made in good faith in compliance with Subsection A.
If the accountant, subsequent to the date of the Audited financial report filed pursuant to this regulation, becomes aware of facts that might have affected his or her report, the commissioner notes the obligation of the accountant to take such action as prescribed in Volume 1, Section AU of the Professional Standards of the AICPA.
In addition to the annual audited financial report, each RRG shall furnish the commissioner with a written communication as to any unremediated material weaknesses in its internal control over financial reporting noted during the audit. If no unremediated material weaknesses were noted, the communication should so state. The background and experience in general, and the experience in audits of RRGs of the staff assigned to the engagement and whether each is an independent certified public accountant.
Annual Financial Reporting Regulation For Risk Retention Groups Chartered In This State
Nothing within this regulation shall be construed as prohibiting the accountant from utilizing such staff as he or she deems appropriate where use is consistent with the standards prescribed by generally accepted auditing standards; C. That the accountant understands the annual audited financial report and his opinion thereon will be filed in compliance with this regulation and that the commissioner will be relying on this information in the monitoring and regulation of the financial position of RRGs; D.
A representation that the accountant is properly licensed by an appropriate state licensing authority and is a member in good standing in the AICPA; and F. A representation that the accountant is in compliance with the requirements of Section 7 of this regulation.
The RRG shall require that the accountant retain the audit workpapers and communications until the insurance department has filed a report on examination covering the period of the audit but no longer than seven 7 years from the date of the audit report. In the conduct of the aforementioned periodic review by the insurance department examiners, it shall be agreed that photocopies of pertinent audit workpapers may be made and retained by the department.
Such reviews by the department examiners shall be considered investigations and all working papers and communications obtained during the course of such investigations shall be afforded the same confidentiality as other examination workpapers generated by the department.
The audit committee shall be directly responsible for the appointment, compensation and oversight of the work of any accountant including resolution of disagreements between management and the accountant regarding financial reporting for the purpose of preparing or issuing the audited financial report or related work pursuant to this regulation.
Each accountant shall report directly to the audit committee.