36 U.S.C. § 220543: Records, audits, and reports

The Center shall keep correct and complete records of account. to ensure the adequacy of the internal controls of the Center; and to prevent waste, fraud, or misuse of funds transferred to the Center by the corporation or the national governing bodies. An audit under subparagraph (A) shall be conducted at the location at which the financial statements of the Center normally are kept. Not later than 180 days after the date on which an audit under subparagraph (A) is completed, the independent auditor shall issue an audit report. On completion of the audit report under subparagraph (C) for a fiscal year, the Center shall prepare, in a separate document, a corrective action plan that responds to any corrective action recommended by the independent auditor. The name of the person responsible for the corrective action. A description of the planned corrective action. The anticipated completion date of the corrective action. In the case of a recommended corrective action based on a finding in the audit report with which the Center disagrees, or for which the Center determines that corrective action is not required, an explanation and a specific reason for noncompliance with the recommendation. With respect to an audit under paragraph (1), the Center shall provide the independent auditor access to all records, documents, and personnel and financial statements of the Center necessary to carry out the audit. each audit report under paragraph (1)(C); the Internal Revenue Service Form 990 of the Center for each year, filed under section 501(c) of the Internal Revenue Code of 1986; and the minutes of the quarterly meetings of the board of directors of the Center. An audit report or the minutes made available under subparagraph (A) shall not include the personally identifiable information of any individual. For purposes of this subsection, the Center shall be considered a private entity. a strategic plan with respect to the manner in which the Center shall fulfill its duties under sections 220541 and 220542; a detailed description of the efforts made by the Center to comply with such strategic plan during the preceding year; any financial statement necessary to present fairly the assets, liabilities, and surplus or deficit of the Center for the preceding year; an analysis of the changes in the amounts of such assets, liabilities, and surplus or deficit during the preceding year; the number and nature of misconduct complaints referred to the Center; the total number and type of pending misconduct complaints under investigation by the Center; the number of misconduct complaints for which an investigation was terminated or otherwise closed by the Center; and the number of such misconduct complaints reported to law enforcement agencies by the Center for further investigation; the number of such complaints; and the outcome of each such complaint; information relating to the educational activities and trainings conducted by the office of education and outreach of the Center during the preceding year, including the number of educational activities and trainings developed and provided; and a description of the activities of the Center. an opinion or a disclaimer of opinion that presents the assessment of the independent auditor with respect to the financial records of the Center, including whether such records are accurate and have been maintained in accordance with generally accepted accounting principles; an assessment of the internal controls used by the Center that describes the scope of testing of the internal controls and the results of such testing; and a compliance assessment that includes an opinion or a disclaimer of opinion as to whether the Center has complied with the terms and conditions of subsection (b); and “independent auditor” means an independent certified public accountant or independent licensed public accountant, certified or licensed by a regulatory authority of a State or a political subdivision of a State, who meets the standards specified in generally accepted accounting principles.