Common use of INSPECTIONS AND AUDITS Clause in Contracts

INSPECTIONS AND AUDITS. PSP agrees that all relevant records related to this Agreement and any Assignment or any work product under this Agreement and any Assignment, including practices of its Subcontractors, shall be subject, at any reasonable time, to inspection, examination, review, audit, and copying at any office or location of PSP where such records may be found, with or without notice by the Texas State Auditor’s Office (“SAO”), the contracting agency or its contracted examiners, or the Office of the Texas Attorney General, and with regard to any federal funding, the relevant federal agency, the Comptroller General, the General Accounting Office, the Office of the Inspector General, or any of their authorized representatives. All Subcontracts shall reflect the requirements of this section. In addition, pursuant to Texas Government Code, Section 2262.154, the SAO may conduct an audit or investigation of any entity receiving funds under this Agreement and/or any Assignment, including direct payments to PSP and indirect payments under a Subcontract to this Agreement and/or any Assignment; acceptance of such monies acts as acceptance of SAO authority, under legislative audit committee direction, to audit and investigate related to those funds and the entity subject to the audit or investigation must provide SAO with access to any information SAO considers relevant to the scope of the audit or investigation.