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U.S. Code as of:
01/19/04
Section 1459. Records and audit
(a) Maintenance of records by recipients of grants or financial
assistance
Each recipient of a grant under this chapter or of financial
assistance under section 1456a of this title, as in effect before
November 5, 1990, shall keep such records as the Secretary shall
prescribe, including records which fully disclose the amount and
disposition of the funds received under the grant and of the
proceeds of such assistance, the total cost of the project or
undertaking supplied by other sources, and such other records as
will facilitate an effective audit.
(b) Access by Secretary and Comptroller General to records, books,
etc., of recipients of grants or financial assistance for audit
and examination
The Secretary and the Comptroller General of the United States,
or any of their duly authorized representatives, shall -
(1) after any grant is made under this chapter or any financial
assistance is provided under section 1456a of this title, as in
effect before November 5, 1990; and
(2) until the expiration of 3 years after -
(A) completion of the project, program, or other undertaking
for which such grant was made or used, or
(B) repayment of the loan or guaranteed indebtedness for
which such financial assistance was provided,
have access for purposes of audit and examination to any record,
book, document, and paper which belongs to or is used or controlled
by, any recipient of the grant funds or any person who entered into
any transaction relating to such financial assistance and which is
pertinent for purposes of determining if the grant funds or the
proceeds of such financial assistance are being, or were, used in
accordance with the provisions of this chapter.
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