; or (2) to accelerate the repayment terms of any outstanding obligation. 205. Audits; reports to the President and Congress (a) Accounting The books of account of IFA shall be— (1) maintained in accordance with generally accepted accounting principles; and (2) subject to an annual audit by independent public accountants of nationally recognized standing appointed by the Board of Directors. (b) Reports (1) Board of Directors Not later than 90 days after the last day of each fiscal year, the Board of Directors shall submit to the President and Congress a complete and detailed report with respect to the preceding fiscal year, setting forth— (A) a summary of the operations of IFA for that fiscal year; (B) a schedule of the obligations of IFA and capital securities outstanding at the end of that fiscal year, with a statement of the amounts issued and redeemed or paid during that fiscal year; (C) the status of eligible infrastructure projects receiving funding or other assistance pursuant to this Act during that fiscal year, including— (i) all nonperforming loans; and (ii) disclosure of all entities with a development, ownership, or operational interest in those eligible infrastructure projects; (D) a description of the successes and challenges encountered in lending to rural communities, including the role of the Office of Technical and Rural Assistance established under this Act