ACLI Offers SOX Alternative

The American Council of Life Insurers, Washington offered an alternative proposal to regulators meeting in Rhode Island who want to include provisions of the Sarbanes-Oxley Act of 2002 in state insurance regulation.

Meanshile Douglas Stolte, deputy insurance commissioner with the Virginia Insurance Bureau and head of the National Association of Insurance Commissioners/American Institute of Certified Public Accountants (NAIC/AICPA) working group, gave a briefing to state insurance legislators on the statust of proposed changes in the NAIC's model audit rule.

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