Section 41, The Insurance Act, 2016

(1) Every insurer shall, within three months of the end ofeach year prepare with reference to that year and furnish to the Commissioner in respect of all insurance businesses transacted in Sierra Leone- (a) a balance sheet showing the financial position in respect of all insurance businesses transacted (b) a profit and loss account in respect of all (c) a separate revenue account for– (i) life insurance business; (ii) each class of insurance business other than life insurance business; (iii) each class of re-insurance business; (d) an analysis of life insurance policies at the beginning and end of that year; (e) a return required to be filed under section 51; (f) a statement showing the amount of premium, commission and claims arising out of business ceded or accepted by way of reinsurance; (g) a return required to be filed under section 60; (2) The accounts and other returns required under subsection (1) shall be audited by an independent firm of auditors approved by the Commissioner.