Section 17406.1 Of Chapter 3. Escrow Regulations From California Financial Code >> Division 6. >> Chapter 3.
17406.1
. (a) Whenever the reports and financial statements required
pursuant to subdivision (a), (b), or (c) of Section 17406 are to be
reported upon or certified by an accountant other than the accountant
reporting upon or certifying the licensee's most recent reports or
financial statements, the licensee shall furnish the commissioner
with a written notice stating whether there was any disagreement with
the former accountant on any matter in connection with the
preparation of the most recent reports or financial statements
reported upon or certified by that former accountant. If there was
any disagreement, the licensee's written notice shall describe the
reasons for the disagreement. The written notice shall be signed by
the chief executive officer of the licensee. The licensee shall also
request, in writing, that the former accountant furnish the licensee
with a letter addressed to the commissioner stating whether the
former accountant agrees with the statements contained in the
licensee's written notice. If the former accountant disagrees with
any of the licensee's statements, the former accountant's letter
shall explain the reasons for disagreeing with the licensee's
statements. The written notice of the licensee, along with the former
accountant's letter shall be filed with the commissioner no later
than 30 days from the date of engagement of the new accountant.
(b) The written notice of the licensee required by subdivision (a)
shall be considered a notice for purposes of Section 17702.