The SOA of the fund-raising appeal will have to be audited by a public accountant if the funds raised are more than $10,000. If the funds raised is $10,000 or lower, the SOA can be audited by an independent person who is reasonably believed by the governing board members to have the requisite ability and practical experience to carry out a competent examination of the accounts of the fund-raising appeal.  The SOA must be submitted to the COC within 60 days of the last day of the appeal, or within such extended period as may be allowed by the COC.