13 CFR 120.490

§ 120.490 Audits.

United States · 13 CFR — Business Credit and Assistance · Status: effective

Cite this

Citation: 13 CFR 120.490, § 120.490 Audits, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/52143
Permanent ID: ys:prov:52143@1
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Full text

Every SBLC is subject to periodic audits by SBA's Office of Inspector General, Auditing Division, and the cost of such audits will be assessed against the SBLC, except for the first audit. Fees are structured based on the SBLC's assets as of the date of the latest audited financial statement submitted to SBA before the audit. The fee schedule is set forth in SBA's Standard Operating Procedures manual.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.