---
kind: "section"
citation: "15 U.S.C. § 77ff"
title: "15"
title_heading: "Commerce and Trade"
number: "77ff"
heading: "Accounts and annual balance sheet of Corporation; audits"
release: "119-102"
url: "https://uscodex.org/usc/15/77ff"
units:
  - "Chapter 2A — Securities and Trust Indentures"
  - "Subchapter II — Foreign Securities"
---

# §77ff. Accounts and annual balance sheet of Corporation; audits


The [board](/usc/15/205c.md?p=1) of directors shall cause [accounts](/usc/15/1681a.md?p=r-4) to be kept of all matters relating to or connected with the transactions and business of the Corporation, and cause a general [account](/usc/15/1681a.md?p=r-4) and balance sheet of the Corporation to be made out in each year, and cause all [accounts](/usc/15/1681a.md?p=r-4) to be audited by one or more auditors who shall examine the same and report thereon to the [board](/usc/15/205c.md?p=1) of directors.


## Source credit

(May 27, 1933, ch. 38, title II, § 205, 48 Stat. 94.)