sec.71Audit of accounts

### sec.71 Audit of accounts The commission may appoint an appropriately qualified person— to inspect or audit, and report to the commission on, the accounting and other records about the business, or the financial position, of a licensed insurer; or to carry out an actuarial investigation into, and report to the commission on, the assets and liabilities, or any class of assets or liabilities, of a licensed insurer. The appointed person may inspect the accounting and other records of the licensed insurer. The licensed insurer must provide all reasonable help to assist the inspection, audit or actuarial investigation. A person must not wilfully delay or obstruct a person exercising powers under this section. Maximum penalty—150 penalty units or imprisonment for 1 year. A statement made orally or in writing by a person exercising powers under this section is protected by qualified privilege. (sec.71-ssec.1) The commission may appoint an appropriately qualified person— to inspect or audit, and report to the commission on, the accounting and other records about the business, or the financial position, of a licensed insurer; or to carry out an actuarial investigation into, and report to the commission on, the assets and liabilities, or any class of assets or liabilities, of a licensed insurer. (sec.71-ssec.2) The appointed person may inspect the accounting and other records of the licensed insurer. (sec.71-ssec.3) The licensed insurer must provide all reasonable help to assist the inspection, audit or actuarial investigation. (sec.71-ssec.4) A person must not wilfully delay or obstruct a person exercising powers under this section. Maximum penalty—150 penalty units or imprisonment for 1 year. (sec.71-ssec.5) A statement made orally or in writing by a person exercising powers under this section is protected by qualified privilege. - (a) to inspect or audit, and report to the commission on, the accounting and other records about the business, or the financial position, of a licensed insurer; or - (b) to carry out an actuarial investigation into, and report to the commission on, the assets and liabilities, or any class of assets or liabilities, of a licensed insurer.