Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 946

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 2
Chunk 946
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New York, New York

March 7, 2025

47 

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

To the Board of Directors
and
Shareholders of NI Holdings, Inc.

Opinion on the Consolidated Financial Statements

We have audited,
before the effects of the adjustments to retrospectively apply the change in accounting for (a) discontinued operations described in Note
3 and Note 20, and (b) the adoption of ASU 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures
described in Note 21, the accompanying consolidated balance sheet of NI Holdings, Inc. and Subsidiaries (collectively, the “Company”)
as of December 31, 2023, and the related consolidated statements of operations, comprehensive income (loss), changes in shareholders’
equity, and cash flows for each of the years in the two-year period ended December 31, 2023, and the related notes and the schedule listed
in Item 15(a)(2) (collectively referred to as the “consolidated financial statements”). The consolidated financial statements,
before the effects of the adjustments to retrospectively apply the change in accounting for (a) discontinued operations described in Note
3 and Note 20, and (b) the adoption of ASU 2023-07, Segment Reporting (Topic 280) – Improvements to Reportable Segment Disclosures
described in Note 21, are not presented herein.

In our opinion,
the consolidated financial statements referred to above, before the effects of the adjustments to retrospectively apply the change in
accounting for (a) discontinued operations described in Note 3 and Note 20, and (b) the adoption of ASU 2023-07, Segment Reporting (Topic
280) – Improvements to Reportable Segment Disclosures described in Note 21, present fairly, in all material respects, the financial
position of the Company as of December 31, 2023, and the results of its operations and its cash flows for each of the years in the two-year
period ended December 31, 2023, in conformity with accounting principles generally accepted in the United States of America.

We were not
engaged to audit, review, or apply any procedures to the adjustments to retrospectively apply the change in accounting for (a) discontinued
operations described in Note 3 and Note 20,