15 U.S.C. § 2907 : US Code - Section 2907: Contract and grant authority; records and audits

Search 15 U.S.C. § 2907 : US Code - Section 2907: Contract and grant authority; records and audits

(a) Functions vested in any Federal officer or agency by this
chapter or under the Program may be exercised through the
facilities and personnel of the agency involved or, to the extent
provided or approved in advance in appropriation Acts, by other
persons or entities under contracts or grant arrangements entered
into by such officer or agency.
(b)(1) Each person or entity to which Federal funds are made
available under a contract or grant arrangement as authorized by
this chapter shall keep such records as the Director of the Office
shall prescribe, including records which fully disclose the amount
and disposition by such person or entity of such funds, the total
cost of the activities for which such funds were so made available,
the amount of that portion of such cost supplied from other
sources, and such other records as will facilitate an effective
audit.
(2) The Director of the Office and the Comptroller General of the
United States, or any of their duly authorized representatives,
shall, until the expiration of 3 years after the completion of the
activities (referred to in paragraph (1)) of any person or entity
pursuant to any contract or grant arrangement referred to in
subsection (a) of this section, have access for the purpose of
audit and examination to any books, documents, papers, and records
of such person or entity which, in the judgment of the Director or
the Comptroller General, may be related or pertinent to such
contract or grant arrangement.