[Code of Federal Regulations]
[Title 7, Volume 11]
[Revised as of January 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1773.31]

[Page 986]
 
                          TITLE 7--AGRICULTURE
 
    CHAPTER XVII--RURAL UTILITIES SERVICE, DEPARTMENT OF AGRICULTURE
 
PART 1773--POLICY ON AUDITS OF RUS BORROWERS--Table of Contents
 
                  Subpart D--RUS Reporting Requirements
 
Sec. 1773.31  Auditor's report.

    The CPA must prepare a written report on comparative balance sheets, 
statements of revenue and patronage capital (or income and retained 
earnings, depending upon the structure of the borrower) and statements 
of cash flows. This report must be signed by the CPA, cover all 
statements presented, and refer to the separate report on compliance and 
on internal control over financial reporting issued in conjunction with 
the auditor's report. The auditor's report should also state that the 
report on compliance and on internal control over financial reporting is 
an integral part of a GAGAS audit, and in considering the results of the 
audit, this report should be read along with the auditor's report on the 
financial statements.

[66 FR 27836, May 21, 2001]

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