Audited financial statement; requirements

(a) Within 90 days after the end of each fiscal year or within any extended time as the commissioner may prescribe through rules and regulations, every licensee shall file with the commissioner: (1) An audited financial statement of the licensee for the fiscal year prepared in accordance with United States generally accepted accounting principles; and (2) any other information as the commissioner may reasonably require. (b) The audited financial statements shall be prepared by an independent certified public accountant or independent public accountant who has been deemed satisfactory by the commissioner. (c) The audited financial statements shall include or be accompanied by a certificate of opinion of the independent certified public accountant or independent public accountant in a form and manner determined by the commissioner. If the certificate or opinion is qualified, the commissioner may order the licensee to take any action as the commissioner may find necessary to enable the independent certified public accountant or independent public accountant to remove the qualification. (d) This section shall take effect on and after January 1, 2025.