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32REPORT ON EXAMINATION OF OTSEGO MUTUAL FIRE INSURANCE COMPANY AS OF DECEMBER 31, 2022EXAMINER: DATE OF REPORT:LAMIN JAMMEH NOVEMBER 20, 2023TABLE OF CONTENTS ITEMPAGE NO.1.Scope of examination22.Description
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A report on examination is a formal document that evaluates and assesses the financial, operational, and compliance aspects of an organization, typically conducted by auditors or regulatory bodies.
Entities such as insurance companies, banks, and other financial institutions are required to file a report on examination, as mandated by regulatory authorities.
To fill out a report on examination, one must gather relevant financial data, ensure compliance with regulatory standards, and document findings clearly and accurately, following the prescribed format.
The purpose of a report on examination is to provide an overview of an entity's financial condition, assess compliance with applicable laws and regulations, and identify any areas of risk or concern.
Information that must be reported includes financial statements, details about internal controls, compliance with regulations, and any significant findings or recommendations from the examination.
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