42 U.S.C. § 3938 — Annual report of corporation; audit of accounts

(a) (1) The corporation must submit an annual report to the President for transmittal to the Congress within six months after the end of its fiscal year. The report must include a comprehensive and detailed report of the operations, activities, and financial condition of the corporation and the partnership under this chapter. (2) The report must contain a description of the activities undertaken under section 3936(a)(4) of this title , and must specify, as a percentage of equity and in dollars, the extent of the corporation’s and the partnership’s investment in housing for the benefit of families and individuals of low or moderate income, the extent of the corporation’s and the partnership’s investment in other housing, and the extent of the corporation’s and the partnership’s activities which are undertaken under section 3936(a)(4) of this title . (b) The accounts of the corporation and of the partnership must be audited annually under generally accepted auditing standards by independent certified public accountants or independent licensed public accountants certified or licensed by a regulatory authority of a State^* or other political subdivision of the United States.