# Statutory Reporting Open Treasury follows **International Financial Reporting Standards** and **International Financial Market Integration** principles in preparing, recording and registering Financial Reports, and Open Accounting Reports. {% hint style="info" %} These Reports are maintained by each Fiscal Host, covering the Local citizens. Whether a report requires an Independent third party auditor, depends on the nature of legal body(Fiscal Host) and the local law on whether an audit is required, when the statutory financial statement filings are conducted in local jurisdictions. {% endhint %} --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.openconstitution.us/global-statutes/open-bank/open-bank-protocols/statutory-reporting.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.