; (C) monitoring; and (D) management of strategic, reputational, regulatory, operational, developmental, environmental, social, and financial risks; and (4) developing the risk profile of the Bank, including— (A) a risk management and compliance framework; and (B) a governance structure to support that framework. (c) Duties and responsibilities of audit committee Subject to the direction of the Board, the audit committee established under subsection (a) shall have oversight responsibility for— (1) the integrity of— (A) the financial reporting of the Bank; and (B) the systems of internal controls regarding finance and accounting; (2) the integrity of the financial statements of the Bank; (3) the performance of the internal audit function of the Bank; and (4) compliance with the legal and regulatory requirements related to the finances of the Bank. 1631. Oversight (a) External oversight The inspector general of the Department of Energy shall have oversight responsibilities over the Bank. (b) Reports and audit (1) Annual report The Bank shall publish an annual report which shall be transmitted by the Bank to the President and the Congress. (2) Annual audit of accounts The accounts of the Bank shall be audited annually. Such audits shall be conducted in accordance with generally accepted auditing standards by independent certified public accountants who are certified by a regulatory authority of the jurisdiction in which the audit is undertaken. (3) Additional audits In addition to the annual audits under paragraph (2), the financial transactions of the Bank for any fiscal year during which Federal funds are available to finance any portion of its operations may be audited by the Government Accountability Office in accordance with such rules and regulations as may be prescribed by the Comptroller General of the United States. 1632. Maximum contingent liability The maximum contingent liability of the Bank that may be outstanding at any time shall be not more than $70,000,000,000 in the aggregate. .