---
kind: "section"
citation: "30 C.F.R. § 553.27"
title: "30"
number: "553.27"
heading: "When I submit audited annual financial statements to verify my unencumbered assets, what standards must they meet?"
url: "https://uscodex.org/cfr/30/553.27"
---

# §553.27. When I submit audited annual financial statements to verify my unencumbered assets, what standards must they meet?


Any audited annual financial statements that you submit must:

- (a) Meet the standards in [§ 553.24](/cfr/30/553.24.md); and
- (b) Include a certification by the independent accountant who audited the financial statements that states:
  - (1) The value of the unencumbered assets is reasonable and uses the same valuation method used in your audited annual financial statements;
  - (2) Any existing encumbrances are noted;
  - (3) The assets are long-term assets held for use; and
  - (4) The valuation method used in the audited annual financial statements is for long-term assets held for use.

## Notes

### Authority

Authority: 33 U.S.C. 2704, 2716; 2716a; E.O. 12777, as amended.

### Source

Source: 76 FR 64623, Oct. 18, 2011, unless otherwise noted.