22 U.S.C. § 3385: Reports and audits

An assessment of the performance of the implementing partner in fulfilling the purposes of this subchapter. The names and sponsoring agencies of the fellows selected by the implementing partner and the extent to which such fellows represent the diversity of the United States. The names of the parliamentary offices, ministries, other agencies of Taiwan, and nongovernmental institutions to which each fellow was assigned during the second year of the fellowship. Any recommendations, as appropriate, to improve the implementation of the Taiwan Fellowship Program, including added flexibilities in the administration of the program. An assessment of the Taiwan Fellowship Program’s value upon the relationship between the United States and Taiwan or the United States and Asian countries. The financial records of any implementing partner shall be audited annually in accordance with generally accepted government auditing standards by independent certified public accountants or independent licensed public accountants who are certified or licensed by a regulatory authority of a State or another political subdivision of the United States. Each audit under paragraph (1) shall be conducted at the place or places where the financial records of the implementing partner are normally kept. all books, financial records, files, other papers, things, and property belonging to, or in use by, the implementing partner that are necessary to facilitate the audit; and full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians. Not later than 270 days after the end of each fiscal year, the implementing partner shall provide a report of the audit conducted for such fiscal year under paragraph (1) to the Department of State and the American Institute in Taiwan. set forth the scope of the audit; include such statements, along with the auditor’s opinion of those statements, as may be necessary to present fairly the implementing partner’s assets and liabilities, surplus or deficit, with reasonable detail; include a statement of the implementing partner’s income and expenses during the year; and all contracts and cooperative agreements requiring payments greater than $5,000; and any payments of compensation, salaries, or fees at a rate greater than $5,000 per year. Each audit report shall be produced in sufficient copies for distribution to the public.