---
kind: "section"
citation: "36 U.S.C. § 220543"
title: "36"
title_heading: "Patriotic and National Observances, Ceremonies, and Organizations"
number: "220543"
heading: "Records, audits, and reports"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/36/220543"
units:
  - "Subtitle II — Patriotic and National Organizations"
  - "Part B — Organizations"
  - "Chapter 2205 — United States Olympic and Paralympic Committee"
  - "Subchapter IV — United States Center for Safesport"
---

# §220543. Records, audits, and reports

- (a) **Records.—** The [Center](/usc/36/220501.md?p=b-5) shall keep correct and complete records of account.
- (b) **Audits and Transparency.—**
  - (1) **Annual audit.—**
    - (A) **In general.—** Not less frequently than annually, the financial statements of the [Center](/usc/36/220501.md?p=b-5) for the preceding fiscal year shall be audited by an independent auditor in accordance with generally accepted accounting principles—
      - (i) to ensure the adequacy of the internal controls of the [Center](/usc/36/220501.md?p=b-5); and
      - (ii) to prevent waste, fraud, or misuse of funds transferred to the [Center](/usc/36/220501.md?p=b-5) by the [corporation](/usc/36/220501.md?p=b-7) or the [national governing bodies](/usc/36/220501.md?p=b-9).
    - (B) **Location.—** An audit under [subparagraph (A)](#b-1-A) shall be conducted at the location at which the financial statements of the [Center](/usc/36/220501.md?p=b-5) normally are kept.
    - (C) **Report.—** Not later than 180 days after the date on which an audit under [subparagraph (A)](#b-1-A) is completed, the independent auditor shall issue an audit report.
    - (D) **Corrective action plan.—**
      - (i) **In general.—** On completion of the audit report under [subparagraph (C)](#b-1-C) for a fiscal year, the [Center](/usc/36/220501.md?p=b-5) shall prepare, in a separate document, a corrective action plan that responds to any corrective action recommended by the independent auditor.
      - (ii) **Matters to be included.—** A corrective action plan under [clause (i)](#b-1-D-i) shall include the following for each such corrective action:
        - (I) The name of the person responsible for the corrective action.
        - (II) A description of the planned corrective action.
        - (III) The anticipated completion date of the corrective action.
        - (IV) In the case of a recommended corrective action based on a finding in the audit report with which the [Center](/usc/36/220501.md?p=b-5) disagrees, or for which the [Center](/usc/36/220501.md?p=b-5) determines that corrective action is not required, an explanation and a specific reason for noncompliance with the recommendation.
  - (2) **Access to records and personnel.—** With respect to an audit under [paragraph (1)](#b-1), the [Center](/usc/36/220501.md?p=b-5) shall provide the independent auditor access to all records, documents, and personnel and financial statements of the [Center](/usc/36/220501.md?p=b-5) necessary to carry out the audit.
  - (3) **Public availability.—**
    - (A) **In general.—** The [Center](/usc/36/220501.md?p=b-5) shall make available to the public on an easily accessible internet website of the [Center](/usc/36/220501.md?p=b-5)—
      - (i) each audit report under [paragraph (1)(C)](#b-1-C);
      - (ii) the Internal Revenue Service Form 990 of the [Center](/usc/36/220501.md?p=b-5) for each year, filed under section 501(c) of the Internal Revenue Code of 1986; and
      - (iii) the minutes of the quarterly meetings of the board of directors of the [Center](/usc/36/220501.md?p=b-5).
    - (B) **Personally identifiable information.—** An audit report or the minutes made available under [subparagraph (A)](#b-3-A) shall not include the personally identifiable information of any individual.
  - (4) **Rule of construction.—** For purposes of this subsection, the [Center](/usc/36/220501.md?p=b-5) shall be considered a private entity.
- (c) **Report.—** The [Center](/usc/36/220501.md?p=b-5) shall submit an annual report to Congress, including—
  - (1) a strategic plan with respect to the manner in which the [Center](/usc/36/220501.md?p=b-5) shall fulfill its duties under sections [220541](/usc/36/220541.md) and [220542](/usc/36/220542.md);
  - (2) a detailed description of the efforts made by the [Center](/usc/36/220501.md?p=b-5) to comply with such strategic plan during the preceding year;
  - (3) any financial statement necessary to present fairly the assets, liabilities, and surplus or deficit of the [Center](/usc/36/220501.md?p=b-5) for the preceding year;
  - (4) an analysis of the changes in the amounts of such assets, liabilities, and surplus or deficit during the preceding year;
  - (5) a detailed description of [Center](/usc/36/220501.md?p=b-5) activities, including—
    - (A) the number and nature of misconduct complaints referred to the [Center](/usc/36/220501.md?p=b-5);
    - (B) the total number and type of pending misconduct complaints under investigation by the [Center](/usc/36/220501.md?p=b-5);
    - (C) the number of misconduct complaints for which an investigation was terminated or otherwise closed by the [Center](/usc/36/220501.md?p=b-5); and
    - (D) the number of such misconduct complaints reported to law enforcement agencies by the [Center](/usc/36/220501.md?p=b-5) for further investigation;
  - (6) a detailed description of any complaint of [retaliation](/usc/36/220501.md?p=b-11) made during the preceding year by an officer or employee of the [Center](/usc/36/220501.md?p=b-5) or a contractor or subcontractor of the [Center](/usc/36/220501.md?p=b-5) that includes—
    - (A) the number of such complaints; and
    - (B) the outcome of each such complaint;
  - (7) information relating to the educational activities and trainings conducted by the office of education and outreach of the [Center](/usc/36/220501.md?p=b-5) during the preceding year, including the number of educational activities and trainings developed and provided; and
  - (8) a description of the activities of the [Center](/usc/36/220501.md?p=b-5).
- (d) **Definitions.—** In this section—
  - (1) “audit report” means a report by an independent auditor that includes—
    - (A) an opinion or a disclaimer of opinion that presents the assessment of the independent auditor with respect to the financial records of the [Center](/usc/36/220501.md?p=b-5), including whether such records are accurate and have been maintained in accordance with generally accepted accounting principles;
    - (B) an assessment of the internal controls used by the [Center](/usc/36/220501.md?p=b-5) that describes the scope of testing of the internal controls and the results of such testing; and
    - (C) a compliance assessment that includes an opinion or a disclaimer of opinion as to whether the [Center](/usc/36/220501.md?p=b-5) has complied with the terms and conditions of [subsection (b)](#b); and
  - (2) “independent auditor” means an independent certified public accountant or independent licensed public accountant, certified or licensed by a regulatory authority of a State or a political subdivision of a State, who meets the standards specified in generally accepted accounting principles.

## Source credit

(Added Pub. L. 115–126, title II, § 202(a), Feb. 14, 2018, 132 Stat. 323; amended Pub. L. 116–189, § 8(c), Oct. 30, 2020, 134 Stat. 968.)

## Notes

### Editorial Notes

### References in Text

Section 501(c) of the Internal Revenue Code of 1986, referred to in subsec. (b)(3)(A)(ii), is classified to section 501(c) of Title 26, Internal Revenue Code.

### Amendments

2020—Subsecs. (b) to (d). Pub. L. 116–189 added subsecs. (b) to (d) and struck out former subsec. (b). Prior to amendment, text of subsec. (b) read as follows: “The Center shall submit an annual report to Congress, including—

“(1) an audit conducted and submitted in accordance with section 10101; and

“(2) a description of the activities of the Center.”