Louisiana Revised Statutes 39:1629.1 – Right to audit records
Terms Used In Louisiana Revised Statutes 39:1629.1
- Contract: A legal written agreement that becomes binding when signed.
- Contract: means all types of state agreements, regardless of what they may be called, including orders and documents purporting to represent grants, which are for the purchase or disposal of supplies, services, major repairs, or any other item. See Louisiana Revised Statutes 39:1556
- Contractor: means any person having a contract with a governmental body. See Louisiana Revised Statutes 39:1556
- Data: means recorded information, regardless of form or characteristic. See Louisiana Revised Statutes 39:1556
- Person: means any business, individual, union, committee, club, or other organization or group of individuals. See Louisiana Revised Statutes 39:1556
A. Audit of persons submitting cost or pricing data. The state may, at reasonable times and places, audit the books and records of any person who has submitted cost or pricing data pursuant to La. Rev. Stat. 39:1608 to the extent that such books and records relate to such cost or pricing data.
B. Contract audit. The state shall be entitled to audit the books and records of a contractor or any subcontractor under any negotiated contract or subcontract other than a firm fixed-price contract to the extent that such books and records relate to the performance of such contract or subcontract. Such books and records shall be maintained by the contractor for a period of five years from the date of final payment under the prime contract and by the subcontractor for a period of five years from the date of final payment under the subcontract.
Added by Acts 1979, No. 715, §1, eff. July 1, 1980; Acts 2014, No. 864, §2, eff. Jan. 1, 2015.