1. The political parties should present their quarterly reports and their reports on ordinary expenditure according to the following guidelines:

a) Quarterly financial reports:

1. They will be presented no later than thirty days after the end of the corresponding quarter;


2. In the report, the results of the ordinary incomes and expenditures that the parties have obtained and incurred during the corresponding period will be reported;


3. During the year of a federal electoral process, the obligations established in this subparagraph will be suspended, and


4. If faults, errors or omissions are found in the revision carried out by the Commission through the Technical Unit, the political party will be notified so that it remedies them or makes the appropriate clarif cations. The reports constitute a precedent for the annual review carried out by the authority.

b) Annual reports on ordinary expenditure:

1. They will be presented no later than sixty days after the last day of December of the year that the report covers;


2. In the report on ordinary expenditure, the total incomes and ordinary expenditures that the parties have received or incurred during that year in question will be reported;


3. Together with the annual report, the consolidated declaration of the financial situation will be presented, which will include the assets, debts and trusts, as well as a detailed report on the real estate belonging to the corresponding party, and


4. The reports referred to in this subparagraph should be authorized and signed by the external auditor that each party appoints for this purpose.

2. The national political associations will present an annual income and expenditure report, within the same timeline set out in section I of subparagraph a) of paragraph 1 of this article, following the guidelines established in the applicable regulations.