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16 U.S.C. § 583j–5 — Audits and report requirements
Federal law — U.S. Code and appendices · legal_authorities
**(a) Audits** For purposes of [section 10101 of title 36](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title36-section10101&num=0&edition=prelim) the Foundation shall be treated as a corporation in part B of subtitle II of title 36.
**(b) Annual reports** The Foundation shall transmit each year to Congress a report of its proceedings and activities of the previous year, including a full and complete statement of its receipts, expenditures, and investments.
Source: Supplied U.S. Code snapshot — release unconfirmed · 16 U.S.C. § 583j–5
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Stable record: federal_law:legal_authorities:record_usc_f642ae0915cd8a450ddae7df
Source file: Laws/federal/codes/united-states-code/title-16/section-583j5-audits-and-report-requirements--12ac7cf48c.md
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Source location: Title 16, Chapter 3, § 583j–5; chapter-003-forests-forest-service-reforestation-management.md
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**(a) Audits** For purposes of [section 10101 of title 36](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title36-section10101&num=0&edition=prelim) the Foundation shall be treated as a corporation in part B of subtitle II of title 36.
**(b) Annual reports** The Foundation shall transmit each year to Congress a report of its proceedings and activities of the previous year, including a full and complete statement of its receipts, expenditures, and investments.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) General.—** Except as otherwise provided, the financial statements of each corporation in part B of this subtitle shall be audited annually in accordance with generally accepted auditing standards by an independent certified public accountant or independent licensed public accountant, certified or licensed by a regulatory authority of a State or other political subdivision of the United States. The audit shall be conducted where the financial statements of the corporation normally are kept. The person conducting the audit shall be given access to—
(1) all records and property owned or used by the corporation necessary to facilitate the audit; and
(2) full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians.
**(b) Report.—**
(1) The corporation shall submit a report of the audit to Congress not later than 6 months after the close of the fiscal year for which the audit is made. The report shall describe the scope of the audit and include—
(A) statements necessary to present fairly the corporation’s assets, liabilities, and surplus or deficit, and an analysis of the changes in those amounts during the year;
(B) a statement in reasonable detail of the corporation’s income and expenses during the year including the results of any trading, manufacturing, publishing, or other commercial-type endeavor; and
(C) the independent auditor’s opinion of those statements.
(2) The report may not be printed as a public document, except as part of proceedings authorized to be printed under [section 1332 of title 44](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title44-section1332&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 36 U.S.C. § 10101
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