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§ 15-110. Audits

MD State Fin & Pro Code § 15-110 (2019) (N/A)
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(a)    The following persons are subject to an audit of books, accounts, or records:

(1)    before the expiration of the period of retention under subsection (c) of this section, a person who submits cost and price information under § 13-220 of this article, if the books, accounts, or records being audited are reasonably connected with the cost and price information;

(2)    a contractor or subcontractor under a procurement contract if, from an audit of a cost-type contract, the unit has reason to believe that costs have been inappropriately assigned to the cost-type contract from a fixed-price contract; and

(3)    a contractor or subcontractor under a procurement contract that:

(i)    was awarded by a method other than competitive sealed bids; and

(ii)    is not a firm fixed-price procurement contract.

(b)    An audit under this section may be conducted by:

(1)    the Department of Legislative Services;

(2)    a unit engaged in procurement; or

(3)    as authorized by law, any other unit.

(c)    A person subject to an audit under subsection (a) of this section shall keep books, accounts, and records for:

(1)    at least 3 years after the day on which the person receives final payment under a procurement contract or a subcontract; or

(2)    if longer, the period required under the procurement contract.

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