# COMAR 31.05.11.10: COMAR 31.05.11.10. Communication of Internal Control Related Matters Noted in an Audit

> Maryland · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_10

## Section

- **Citation:** COMAR 31.05.11.10
- **Heading:** COMAR 31.05.11.10. Communication of Internal Control Related Matters Noted in an Audit
- **Jurisdiction:** Maryland
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Code of Maryland Regulations / Title 31 MARYLAND INSURANCE ADMINISTRATION / Subtitle 05 ASSETS, LIABILITIES, RESERVES, AND INVESTMENTS OF INSURERS / Chapter 11 Annual Financial Reporting / COMAR 31.05.11.10

## Text

A. In addition to the annual audited financial report, each insurer shall furnish the Commissioner with a written communication as to any unremediated material weaknesses in its internal control over financial reporting noted during the audit.
B. The communication in §A of this regulation , shall be prepared by the accountant within 60 days after the filing of the annual audited financial report, and shall contain a description of any unremediated material weakness, as the term material weakness is defined by Statement on Auditing Standard 60, Communication of Internal Control Related Matters Noted in an Audit, or its replacement, as of the immediately preceding December 31, so as to coincide with the audited financial report discussed in Regulation .03A of this chapter in the insurer's internal control over financial reporting noted by the accountant during the course of their audit of the financial statements.
C. If no unremediated material weaknesses were noted, the communication from §A shall so state.
D. The insurer shall provide a description of remedial actions taken or proposed to correct unremediated material weaknesses, if the actions are not described in the accountant's communication.
Cross References 31.05.11.16B

## Nearby sections

- [COMAR 31.05.11.01 COMAR 31.05.11.01. Purpose and Scope](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_01.md)
- [COMAR 31.05.11.02 COMAR 31.05.11.02. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_02.md)
- [COMAR 31.05.11.03 COMAR 31.05.11.03. Filing and Extensions for Filing Audited Financial Reports; Audit Committee Appointment](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_03.md)
- [COMAR 31.05.11.04 COMAR 31.05.11.04. Contents of Annual Audited Financial Report](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_04.md)
- [COMAR 31.05.11.05 COMAR 31.05.11.05. Designation of Independent Certified Public Accountant](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_05.md)
- [COMAR 31.05.11.06 COMAR 31.05.11.06. Qualifications of Independent Certified Public Accountant](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_06.md)
- [COMAR 31.05.11.07 COMAR 31.05.11.07. Consolidated or Combined Audits](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_07.md)
- [COMAR 31.05.11.08 COMAR 31.05.11.08. Scope of Audit and Report of Independent Certified Public Accountant](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_08.md)
- [COMAR 31.05.11.09 COMAR 31.05.11.09. Notification of Adverse Financial Condition](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_09.md)
- [COMAR 31.05.11.10 COMAR 31.05.11.10. Communication of Internal Control Related Matters Noted in an Audit](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_10.md)
- [COMAR 31.05.11.11 COMAR 31.05.11.11. Accountant's Letter of Qualifications](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_11.md)
- [COMAR 31.05.11.12 COMAR 31.05.11.12. Definition, Availability, and Maintenance of Independent Certified Public Accountant's Workpapers](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_12.md)
- [COMAR 31.05.11.13 COMAR 31.05.11.13. Requirements for Audit Committees](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_13.md)
- [COMAR 31.05.11.14 COMAR 31.05.11.14. Internal Audit Function Requirements](https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_14.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MD_COMAR_31_05_11_10. Check the current official text before relying on it. Not legal advice.