1. As often as the Board deems necessary, the Board shall conduct a financial or operational audit of the accounts, funds, programs, activities and functions of all licensees. As often as the Department deems necessary, the Department of Taxation shall conduct a tax audit of all licensees.
2. A licensee shall make available to the Board or Department of Taxation, as applicable, all books, accounts, claims, reports, vouchers and other records requested by the Board or Department in connection with an audit conducted pursuant to subsection 1.
3. If a licensee refuses to produce any of the records described in subsection 2, the Board or Department of Taxation, as applicable, may petition the district court to order the licensee to produce the requested records. The court shall order the production of all such records upon a finding that the requested records are within the scope of the audit.
4. If any audit report of the accounts, funds, programs, activities and functions of a licensee contains adverse or critical audit results, the Board or Department of Taxation, as applicable, may require the licensee subject to the audit to respond, in writing, to the results of the audit. A licensee shall provide such response to the Board or Department not more than 15 days after receiving a request from the Board or Department.
5. On or before April 1 of each year, the Board and the Department of Taxation shall submit to the Director of the Legislative Counsel Bureau a report concerning the audits conducted pursuant to this section for the preceding year. The report must include, without limitation:
(a) The number of audits performed pursuant to this section in the preceding year;
(b) A summary of the findings of the audits; and
(c) The cost of each audit.
(Added to NRS by 2019, 3783, effective July 1, 2020)