(a) The Board is authorized to inspect and copy all accounts, books,
records, memoranda, correspondence, and other documents of any enterprise
which has received financial assistance under this Act concerning any matter
which may bear upon (1) the ability of such enterprise to repay the loan
within the time fixed therefor; (2) the interests of the United States in the
property of such enterprise; and (3) the assurance that there is reasonable
protection to the United States. The Board is authorized to disapprove any
transaction of such enterprise involving the disposition of its assets which
may affect the repayment of a loan that has been guaranteed pursuant to the
provisions of this Act.
(b) The General Accounting Office shall make a detailed audit of all
accounts, books, records, and transactions of any borrower with respect to
which an application for a loan guarantee is made under this Act. The General
Accounting Office shall report the results of such audit to the Board and to
the Congress.
[15 USC 1846.]
