2011 Louisiana Laws
Revised Statutes
TITLE 39 — Public finance
RS 39:1516 — Right to audit


LA Rev Stat § 39:1516 What's This?

SUBPART E. AUDIT OF COST OR PRICING

DATA AND AUDIT OF RECORDS

§1516. Right to audit

A. The state through the Legislative Auditor may audit the books and records of any person who has submitted cost or pricing data under R.S. 39:1507 at any time until the period of record retention as set forth in Subsection B hereof has expired. The right of audit hereunder shall extend only to those books and records reasonably connected with cost or pricing data submitted under R.S. 39:1507, and such books and records shall be maintained by the contractor or subcontractor for the period specified in Subsection B hereof.

B. The state through the Legislative Auditor shall be entitled to audit the books and records of a contractor or any subcontractor under and related to any negotiated contract or subcontract. Such books and records shall be maintained by the contractor for a period of three years after the date of final payment under the prime contract and by the subcontractor for a period of three years after the date of final payment under the subcontract.

Added by Acts 1978, No. 772, §1.

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