Contractor shall provide the following Services: A. Annual Financial Statement Audit Services 1. Contractor shall audit: (1) the financial position of USAC; (2) the related statements of activities, including operations and changes in net assets and cash flows; and (3) the accompanying supplementary information, for each calendar year ending December 31st during the term of this contract. 2. Contractor shall perform the annual financial statement audit in accordance with the Generally Accepted Auditing Standards in the United States of America (“US GAAS”). 3. Upon completion of the annual financial statement audit, contractor shall provide USAC and the FCC OMD an audit report on the financial statements, including a report on internal controls and USAC’s compliance with laws and regulations.
