WVC 33 - 33 - 9
§33-33-9. Notification of adverse financial condition.
(a) The insurer required to furnish the annual audited
financial report shall require the independent certified public
accountant to report, in writing, within five business days to the
board of directors or its audit committee any determination by the
independent certified public accountant that the insurer has
materially misstated its financial condition as reported to the
commissioner as of the balance sheet date currently under audit or
that the insurer does not meet the minimum capital and surplus
requirements of this chapter as of that date. An insurer that has
received a report pursuant to this subsection shall forward a copy
of the report to the commissioner within five 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 business day period, the independent certified public
accountant shall furnish to the commissioner a copy of his or her
report within the next five business days.
(b) No independent public accountant shall be liable in any
manner to any person for any statement made in connection with
subsection (a) of this section if the statement is made in good
faith in compliance with said subsection.
(c) If the accountant, subsequent to the date of the audited
financial report filed pursuant to this article, becomes aware of facts which might have affected the report, the commissioner notes
the obligation of the accountant to take action as prescribed in
volume 1, section AU 561 of the professional standards of the
American Institute of Certified Public Accountants.