; or (C) enable USAID to deliver a program or activities more sustainably or quickly than if competition were not so limited. (2) Limitation The authority granted under paragraph (1) may not be used— (A) to make acquisition awards in excess of $25,000,000; or (B) with respect to more than 10 percent of the amounts appropriated to USAID in any fiscal year. (d) Use of national or international generally accepted accounting principles The Administrator of USAID, in consultation with the Administrator of the General Services Administration, the Secretary of Defense, and the Administrator of the National Aeronautics and Space Administration, may permit foreign entities to use national or international generally accepted accounting principles instead of United States Generally Accepted Accounting Principles (GAAP) for contracts or grants awarded under chapter 7 of title 2, Code of Federal Regulations, or chapter 7 of title 48, Code of Federal Regulations. 9. Annual report Not later than 180 days after the last day of each fiscal year, and annually thereafter, the Administrator of USAID shall submit to the appropriate congressional committees and publish on the USAID website a report on the progress made by USAID during the most recently completed fiscal year to advance locally led development and humanitarian response, which shall include, with respect to the reporting period— (1) the amount of funding expended directly or indirectly by local entities, including through all development and humanitarian assistance programs; (2) an assessment of how USAID is enabling more local leadership of programs funded by USAID, including— (A) recipients of direct funding; (B) subrecipients and subcontractors to an international implementing partner; (C) participants in a USAID-funded program; and (D) members of a community affected by a USAID program; (3) an assessment of progress made by USAID towards implementing— (A) the Acquisitions and Assistance Strategy; (B) the Local Capacity Strengthening Policy