AA-1.3 AA-1.3 Audit Partner Rotation
AA-1.3.1
Unless otherwise exempted by the CBB,
insurance licensees must ensure that the audit partner responsible for their audit does not undertake that function more than five years in succession.Amended: January 2007AA-1.3.2
Insurance licensees must notify the CBB of any change in audit partner.Amended: January 2007AA-1.3.1A
For purposes of Paragraph AA-1.3.1, the first five-year period referred to is for the period ending 31 December 2010 (Refer to Paragraph ES-2.4.3). Therefore, unless there has been a change in the partner appointed since the Rulebook was issued in May 2005, or if a company has been licensed since the Rulebook has been issued,
insurance licensees will need to have a new partner responsible for the audit engagement for the year 2011Added: October 2007
