13B.08.06.10

.10 Record Keeping and Audits.

A. All financial books, records, and documents pertaining to this program shall be opened to inspection, review, and audit at all reasonable times by the Commission, the State auditor, or their authorized representatives.

B. A private career school shall retain all financial books, records, and documents relating to an award for 5 years after the close of the fiscal year in which the award was made.

C. A private career school shall include this program in any independent audit conducted for the school on financial aid programs.