CFR > Title 30 - Mineral Resources > CHAPTER II—MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR > SUBCHAPTER B—OFFSHORE (parts 250 to 285) > PART 253—OIL SPILL FINANCIAL RESPONSIBILITY FOR OFFSHORE FACILITIES > SUBPART C—Methods for Demonstrating OSFR (§253.20 to §253.32) > 253.27—When I submit audited annual financial statements to verify my unencumbered assets, what standards must they meet?

253.27—When I submit audited annual financial statements to verify my unencumbered assets, what standards must they meet?

Any audited annual financial statements that you submit must:
(a) Meet the standards in § 253.24; and
(b) Include a certification by the independent accountant who audited the financial statements that states:
(1) The value of the unencumbered assets is reasonable and uses the same valuation method used in your audited annual financial statements;
(2) Any existing encumbrances are noted;
(3) The assets are long-term assets held for use; and
(4) The valuation method used in the audited annual financial statements is for long-term assets held for use.