Nev. Admin. Code § 645F.460 - Annual financial statement

1. Except as otherwise provided in this section, not later than 120 days after the last day of each fiscal year for an independent licensee, the independent licensee shall submit to the Commissioner a financial statement that:

(a) Is dated not earlier than the last day of the fiscal year; and

(b) Has been prepared from the books and records of the independent licensee by an independent certified public accountant who holds a permit to engage in the practice of certified public accounting in this State or another state.

2. The Commissioner may grant a reasonable extension for the submission of a financial statement pursuant to this section if an independent licensee requests such an extension before the date on which the financial statement is due.

3. If an independent licensee maintains any accounts described in NAC 645F.465 and the 6-month average balance in those accounts exceeds $75,000, the financial statement submitted pursuant to this section must be audited in accordance with generally accepted auditing standards. The independent certified public accountant who prepares the report of an audit shall submit a copy of the report to the Commissioner at the same time that the independent certified public accountant submits the report to the independent licensee.

Notes

Nev. Admin. Code § 645F.460

Added to NAC by Comm'r of Mortgage Lending by R052-09, eff. 8-25-2009

NRS 645F.255, 645F.390