10 CRR-NY 98-3.9NY-CRR
STATE COMPILATION OF CODES, RULES AND REGULATIONS OF THE STATE OF NEW YORK
TITLE 10. DEPARTMENT OF HEALTH
CHAPTER II. ADMINISTRATIVE RULES AND REGULATIONS
SUBCHAPTER R. HEALTH MAINTENANCE ORGANIZATIONS
PART 98. HEALTH MAINTENANCE ORGANIZATIONS
SUBPART 98-3. MANAGED CARE ORGANIZATIONS—AUDITED FINANCIAL STATEMENTS
10 CRR-NY 98-3.9
10 CRR-NY 98-3.9
98-3.9 Notification of adverse financial condition.
(a) Every MCO required to furnish an annual audited financial report shall require the CPA to report, in writing, to the commissioner, the board of directors and the MCO’s audit committee within five business days of any determination by the CPA that the MCO has materially misstated its financial condition as reported to the commissioner as of the balance sheet date currently under audit or that the MCO does not meet the contingent reserve requirement of section 98-1.11(e) of this Part.
(b) A MCO shall ensure that, if the CPA, subsequent to the date of the audited financial report filed pursuant to this regulation, becomes aware of facts that might have affected the report, the CPA acts in accordance with professional obligations imposed by the AICPA and PCAOB.
10 CRR-NY 98-3.9
Current through September 15, 2021
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IMPORTANT NOTE REGARDING CONTENT CURRENCY: The "Current through" date indicated immediately above is the date of the most recently produced official NYCRR supplement covering this rule section. For later updates to this section, if any, please: consult editions of the NYS Register published after this date; or contact the NYS Department of State Division of Administrative Rules at [email protected]. See Help for additional information on the currency of this unofficial version of NYS Rules.