42 USC 8106 - Reports and audits

(a) Annual report to President and Congress 
The corporation shall publish an annual report which shall be transmitted by the corporation to the President and the Congress.
(b) Annual audit of accounts 
The accounts of the corporation shall be audited annually. Such audits shall be conducted in accordance with generally accepted auditing standards by independent certified public accountants who are certified by a regulatory authority of the jurisdiction in which the audit is undertaken.
(c) Additional audits by Government Accountability Office 
In addition to the annual audit, the financial transactions of the corporation for any fiscal year during which Federal funds are available to finance any portion of its operations may be audited by the Government Accountability Office in accordance with such rules and regulations as may be prescribed by the Comptroller General of the United States.
(d) Audit of grantees and contractors of corporation 
For any fiscal year during which Federal funds are available to finance any portion of the corporations grants or contracts, the Government Accountability Office, in accordance with such rules and regulations as may be prescribed by the Comptroller General of the United States, may audit the grantees or contractors of the corporation.

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(e) Annual financial audit 
The corporation shall conduct or require each grantee or contractor to provide for an annual financial audit. The report of each such audit shall be maintained for a period of at least five years at the principal office of the corporation.