The accounts auditor shall forthwith file a report to the Authority with copy thereof to the company's chairman of the board of directors in any of the following cases:

A. Should he became evident that the financial situation of the company does not enable it to fulfill its obligations towards the insured or hinders its capacity to meet the financial requirements provided for in the law herein and the regulations, rules, directives and decisions issued pursuant thereto relevant to the financial situation of the company.

B. Should he became evident that there is grief imperfection in the company's performance of its financial procedures including the process of entering the statements into its accounting records.

C. Should he refused or have reservations in respect of any certificate issued by the company related to its income or its financial statements.

D. Should he decided to resign or refused to be reappointment with the company for unusual reasons.

2. The Director General may ask the accounts auditor to furnish him directly within a specific period with the information needed to monitor the company's operations.

3. The general assembly of the company, in case the accounts auditor recommended that the financial statements filed thereto by the board of directors not to be approved, may resolve either to:

1. return the financial statements to the board of directors and demand the budget and profit and loss account be corrected according to the auditor's remarks and deem them approved following the correction, or
    
2. refer the matter to the director general to appoint an expertise committee of account auditors, determine their remunerations to be borne by the company, to settle the subject matter of the dispute between the company's board of directors and its accounts auditors. The decision of the committee shall be binding after presenting the same once more to the general assembly for approval. The budget and the profit and loss account shall be amended as decided by the committee.