Outline the areas on which the Statutory Auditor is required to express his opinion during Certification of Financial Statements of Insurance Companies.

The Statutory Auditor of an insurance company is required to express his opinion on: Whether the balance sheet gives a true and fair view of the insurer's affairs as the end of the financial year/period. Whether the revenue account gives a true and fair view of surplus or the deficit for the Financial year/period. Whether the Profit and Loss Account gives a true and fair view of the profit or loss for the financial year/period. Whether the receipts and payments account gives a true and fair view of the receipts and payments for the financial year/period The financial statements are prepared in accordance with the requirements of the Insurance Act 1938, the insurance Regulatory and Development Authority Act, 1999 and the Companies Act, 2013, to the extent applicable and in the manner so required. Investments have been valued in accordance with the provisions of the Act and regulations. The accounting policies are appropriate and are in compliance with the applicable Accounting Standards and the accounting principles. Certify the management report and that there is no apparent mistake or material inconsistencies with the financial statement. He has to certify that he has verified the cash balances and securities relating to the insurer's loans reversions and life interest and investments. Certify that the insurer has complied with the terms and conditions of the registration stipulated by the Authority. A certificate signed by the auditors (which is in addition to any other certificate or report which is required by law to be given with respect to the balance sheet) certifying that: They have verified the cash balances and the securities relating to the insurer's loans, reversions and life interests (in the case of life insurers) and investments; The extent, if any, to which they have verified the investments and transactions relating to any trusts undertaken by the insurer as trustee; and No part of the assets of the policyholders' funds has been directly or indirectly applied in contravention of the provisions of the Insurance Act, 1938 (4 of 1938) relating to the application and investments of the policyholders' funds."