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1. The Director shall report to the Governing Board on the performance of his/her duties in the form of an annual activity report.

2. The annual activity report shall contain financial and management information indicating the results of operations by reference to the annual work programme and to the objectives set, the risks associated with those operations, the use made of the resources provided and the way the internal control system has functioned.

3. The Governing Board shall draft an analysis and an assessment of the draft annual activity report on the previous financial year.

4. The Governing Board shall adopt the annual activity report and forward it together with its analysis and an assessment to the competent bodies of the European Parliament, the Council, the Commission, the Court of Auditors and the European Economic and Social Committee by 15 June of the following year at the latest. This report shall also be forwarded to the Member States and, for information, to the partner countries.

5. The Director shall present the Foundation's annual activity report to the relevant committees of the European Parliament and preparatory bodies of the Council.