(a) The board shall be responsible for establishing accountability standards, reporting standards, and outcome measurements for all of its expenditures, including all investments and grants. (b) The board and the hub shall comply with provisions of chapter 155 of title 42 (“quasi-public corporations accountability and transparency act”). (c) In addition to the requirements pursuant to the provisions of subsection (b) of this section and § 42-155-7, the books and records of the hub shall be audited by an outside audit firm selected and paid for by the hub, in accordance with § 35-7-13 at least on an annual basis, in accordance with generally accepted accounting principles and generally accepted government auditing standards.
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