The new era of preneed exams and audits got off to a slow start in Missouri, but now there are indications the process is picking up speed. The first notices of preneed financial examinations went out to sellers last January, and some are now going through on-site examinations. A second wave of examination notices has gone out, and the State Board has begun preparations for the first examination reports.
While the examination process will continue to evolve, the process will likely involve the following stages:
- The notice and request for documents
- A desk audit of the seller’s documents
- An on-site examination
- An exit interview
- An examination report and the seller response
- (If violations are found) a request for a corrective plan proposal
In our next blog posts, we look at each of the stages in more depth.