§  3.49   Agreement to be audited.

   Accounting authorities accept their certifications on condition that
   they are subject to audit of their settlement activities by the
   Commission or its representative. Additionally, the Commission reserves
   the right to verify any statement(s) made or any materials submitted to
   the Commission under these rules. Verification may involve discussions
   with ship owners or others as well as the requirement to submit
   additional information to the Commission. Failure to respond
   satisfactorily to any audit findings is grounds for forfeiture or
   suspension or cancellation of authority to act as an accounting
   authority for U.S. vessels.