Section 1206.3 – Auditing of books of contractor or subcontractor.

• (1) A procurement officer or an audit entity under contract with the procurement unit may audit the books and records of a contractor or subcontractor.

• (2) An audit under Subsection (1):
  • (a) is limited to the books and records that relate to the applicable contract or subcontract; and
  • (b) may occur only at a reasonable time and place.

• (3) A contractor shall maintain all books and records relating to a contract for six years after the day on which the contractor receives the final payment under the contract, or until all audits initiated under this section within the six-year period have been completed, whichever is later.

• (4) A subcontractor shall maintain all books and records relating to a subcontract for six years after the day on which the subcontractor receives the final payment under the subcontract, or until all audits initiated under this section within the six-year period have been completed, whichever is later.

Enacted by Chapter 355, 2016 General Session