| 1. | For the purposes of complying with this Rule III.D, VASPs Licensed to issue ARVAs shall appoint an independent third-party auditor and promptly notify VARA of the full name and contact details of the auditor upon appointment. |
| 2. | VASPs Licensed to issue ARVAs shall—
| a. | every six (6) months, commission an independent audit of—
| a. | the number and value of the ARVAs in public circulation; | | b. | the composition and value of the Reserve Assets, if applicable; and
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| | b. | commission an independent audit of their financial statements to produce an annual report, which shall be promptly made available to VARA upon request.
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| 3. | The Senior Management of the VASP Licensed to issue ARVAs shall, as soon as practicable upon its completion, submit to VARA an attestation as to the accuracy of each independent audit in accordance with Rule III.D of these ARVA Rules.
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