View all text of Subchapter IV [§ 3381 - § 3388]
§ 3385. Reports and audits
(a) Annual reportNot later than 90 days after the selection of the first class of fellows under this subchapter, and annually thereafter for 7 years, the Department of State shall offer to brief the appropriate committees of Congress regarding the following issues:
(1) An assessment of the performance of the implementing partner in fulfilling the purposes of this subchapter.
(2) 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.
(3) 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.
(4) Any recommendations, as appropriate, to improve the implementation of the Taiwan Fellowship Program, including added flexibilities in the administration of the program.
(5) 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.
(b) Annual financial audit
(1) In general
(2) Location
(3) Access to documentsThe implementing partner shall make available to the accountants conducting an audit under paragraph (1)—
(A) 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
(B) full facilities for verifying transactions with the balances or securities held by depositories, fiscal agents, and custodians.
(4) Report
(A) In general
(B) ContentsEach audit report shall—
(i) set forth the scope of the audit;
(ii) 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;
(iii) include a statement of the implementing partner’s income and expenses during the year; and
(iv) include a schedule of—(I) all contracts and cooperative agreements requiring payments greater than $5,000; and(II) any payments of compensation, salaries, or fees at a rate greater than $5,000 per year.
(C) Copies
(Pub. L. 117–263, div. E, title LV, § 5531, Dec. 23, 2022, 136 Stat. 3329.)