Section 11-505 - Financial audit or review(a) Each year, the Corporation shall require: (1) a financial audit by an independent certified public accountant of each grantee whose grant income from the Corporation in the most recently completed fiscal year was $50,000 or more; or(2) a financial review by an independent certified public accountant of each grantee whose grant income from the Corporation in the most recently completed fiscal year was less than $50,000.(b) The report of each audit or review shall be:(1) submitted to the Governor;(2) made available to the Legislative Auditor; and(3) kept for at least 5 years at the principal office of the Corporation.