Contents of report.

1. The annual Audited Financial Report must include a report of the financial position of the insurer as of the end of the most recent calendar year and the results of the insurer’s operations, cash flows and changes in capital and surplus for that year, in conformity with statutory accounting practices prescribed, or otherwise permitted, by the insurance regulatory authority of the state of domicile. 2. The annual Audited Financial Report must include, without limitation: (a) A report of an independent certified public accountant; (b) A balance sheet reporting admitted assets, liabilities, capital and surplus; (c) A statement of operations; (d) A statement of cash flow; (e) A statement of changes in capital and surplus; (f) A summary of the ownership and relationships of the insurer and each of its affiliated companies, if any; and (g) All notes to financial statements required by the appropriate annual statement instructions manual, as adopted by reference in NAC 679B.033 , and the Accounting Practices and Procedures Manual , as adopted by reference in NAC 679B.033 . The notes must include a reconciliation of differences, if any, between the annual Audited Financial Report filed with the Commissioner pursuant to NRS 680A.265 and the annual statement filed with the Commissioner pursuant to NRS 680A.270 , with a written description of the nature of these differences. 3. The financial statements included in the annual Audited Financial Report must be: (a) Prepared in a form and using language and groupings that are substantially similar to the relevant sections of the annual statement of the insurer filed with the Commissioner pursuant to NRS 680A.270 ; and (b) Comparative, presenting the amounts as of December 31 of the most recent calendar year and the amounts as of December 31 of the immediately preceding calendar year, except that, in the first year in which an insurer is required to file an annual Audited Financial Report, the insurer may include only the data from the most recent year, omitting the comparative data from the immediately preceding calendar year.