A-32 - Act respecting insurance

Section 297 Disposition versions

2003-02-12

297. The auditor shall indicate, in the auditor’s report,

(1)  whether the audit was carried out in accordance with generally accepted auditing standards;

(2)  whether, in the auditor’s opinion, the financial statements of the insurer included in the report submitted to the general meeting present fairly the financial position of the insurer and the results of its operations, in accordance with generally accepted accounting principles.

The auditor shall include in the report sufficient explanations in respect of any reservations expressed.

For the purposes of his report, the auditor may accept the certificate contemplated in the third paragraph of section 298.15.

1974, c. 70, s. 297; 1979, c. 33, s. 26; 1996, c. 63, s. 59; 2002, c. 70, s. 122.

1996-12-23

297. The auditor must so specify in his report if he believes, on the basis of the registers of the insurer, of the explanations given and of all the available information, that the statements faithfully represent the results of the insurer’s operations during the year and its financial condition at the end of the year, or, if he believes that they do not faithfully represent them or that pertinent information respecting the affairs of the insurer has not been revealed, he must furnish an explanation for it.

For the purposes of his report, the auditor may accept the certificate contemplated in the third paragraph of section 298.15.

1974, c. 70, s. 297; 1979, c. 33, s. 26; 1996, c. 63, s. 59.

1979-06-22

297. The auditor must so specify in his report if he believes, on the basis of the registers of the insurer, of the explanations given and of all the available information, that the statements faithfully represent the results of the insurer’s operations during the year and its financial condition at the end of the year, or, if he believes that they do not faithfully represent them or that pertinent information respecting the affairs of the insurer has not been revealed, he must furnish an explanation for it.

For the purposes of his report, the auditor may accept the certificate contemplated in the third paragraph of section 309.

1974, c. 70, s. 297; 1979, c. 33, s. 26.

1977-12-31

297. The auditor must so specify in his report if he believes, on the basis of the registers of the insurer, of the certificate contemplated in the second paragraph of section 309, in the case of an insurer transacting the insurance of persons, of the explanations given and of all the available information, that the statements exactly represent, in accordance with established principles of accounting, the results of the insurer’s operations during the year and its financial condition at the end of the year, or, if he believes that they do not exactly represent them or that pertinent information respecting the affairs of the insurer has not been revealed, he must furnish an explanation for it.

1974, c. 70, s. 297.