I thought I would provide a short and sweet response today to three questions I am receiving with relative frequency.

1. Why is the Colorado Business Only Schedule P no longer on the Colorado Checklist?
• Colorado repealed the requirement to file the Colorado Schedule P information. House Bill 11-1033 specifically repealed the requirement. Select this link to review the Bill, http://www.state.co.us/gov_dir/leg_dir/olls/digest2011a/INSURANCE.htm#11-1033.
2. For new General Interrogatory 15 how do I determine “an NAIC rating of 3 or below” when the bank does not have an NAIC rating?
• The NAIC SVO document NAIC ARO Rating Equivalent to SVO Designations provides information to map an ARO rating to the NAIC Designation. Select this link to review or download the document, http://www.naic.org/documents/svo_naic_aro.pdf.
3. Where can I find information on the 3 new supplemental filings relief from the five-year rotation requirement for lead partner, relief from the one-year cooling off period for independent CPA and relief from the requirements for audit committees?
• This information is found in the Accounting Practices and Procedures Manual, Appendix G – Implementation Guide for the Annual Financial Reporting Model Regulation (Model). The Implementation Guide is also available at http://www.naic.org/documents/committees_e_naic_aicpa_wg_model_audit_rule_imp_guide.pdf.

That’s all for now.  I will post new updates or information as I receive it.  Thank you for the great questions!