265—9.12 (16) Audit procedures.
	 9.12(1) Serialized forms audit. The division will periodically supply to a participant who issues title guaranty certificates a list of all serialized forms that, according to the division’s records, are in the custody and control of the participant. The participant shall, within 15 days of receipt of the list of serialized forms, return the list to the division either with a certification that it is correct or with an explanation of any discrepancies between the records of the division and those of the participant.
	 9.12(2) Office audits. The division may, with or without notice to a participating abstractor or participating attorney, audit the participant at the participant’s office. This audit may include, but need not be limited to, a review of the participant’s commitment and policy issuance procedures, an audit of serialized forms, an audit and test of title plants and tract indices, and verification of the participant’s compliance with participation agreements, the Code of Iowa, these rules, manuals, and guides and any other written or oral instructions or requirements of the division.