Eagle Worldwide Inc.(fka ELWD)

[Darth Trader4]

A company can use any currency to record its transactions in the obligatory balance sheet and inventory book. An audit of annual financial statements must be performed by independent Panamanian certified public accountants for: (1) companies listed with the National Securities Commission, insurance and reinsurance companies, banks and savings institutions; and (2) any company with capital or annual sales volume or gross income exceeding 100,000 balboas ($100,000). Companies that invite the public to buy securities must submit audited financial statements to all registered shareholders and to the National Securities Commission. There are no statutory audit requirements other than for the companies mentioned above and in general no need to file financial returns. Books of account must be stored in Panama if they record transactions conducted within the country.

http://www.offshore-protection.com/panamaHaven8.html