(a) Appointment of Inspector General.—There shall be an Inspector General for the Commissions appointed in accordance with section 403(a) of title 5. All of the Commissions shall be subject to a single Inspector General.

(b) Records of a Commission.—

(1) In general.—A Commission shall maintain accurate and complete records of all its transactions and activities.

(2) Availability.—All records of a Commission shall be available for audit and examination by the Inspector General (including authorized representatives of the Inspector General).

(c) Records of Recipients of Commission Assistance.—

(1) In general.—A recipient of funds from a Commission under this subtitle shall maintain accurate and complete records of transactions and activities financed with the funds and report to the Commission on the transactions and activities.

(2) Availability.—All records required under paragraph (1) shall be available for audit by the Commission and the Inspector General (including authorized representatives of the Commission and the Inspector General).

(d) Annual Audit.—The Inspector General shall audit the activities, transactions, and records of each Commission on an annual basis.