§11334 Records and Audit of National Board and Recipients of Assistance

Summary

The National Board must have its accounts audited each year by independent certified public accountants or independent licensed public accountants who are certified or licensed by a state or other local authority. Audits must be done where the board keeps its records. The board must give auditors access to all books, records, reports, files, and other items needed to check the accounts, and let them verify transactions with banks, fiscal agents, and custodians. The independent audit must be included in the board’s annual report and must show the audit’s scope, a fair picture of assets and liabilities, any surplus or deficit and how it changed, income and expenses for the year, how funds were used, and the auditor’s opinion. Anyone who receives money under this law must keep records that show how much they got, how they used it, the total project cost, and what part of the cost came from other sources, plus other records needed for an audit. The National Board and its authorized representatives may examine those records. The Comptroller General of the United States, or their authorized representatives, may also examine the books and records of the board and of recipients.