(a) When used in this chapter, the terms:
(1) “audit data” means the auditor's working papers, which include, but are not limited to, draft reports and documents containing the evidence to support the auditor's findings, conclusions, and judgments. They include the collection of evidence prepared or obtained by the auditor during the audit inspection or investigation; and
(2) “audit report” means the final report issued after the auditee has had the opportunity to review and respond to its findings and recommendations.
(b) Audit data shall be considered confidential information, pursuant to Title 3, section 881, subsection (g), Virgin Islands Code. Any authorized disclosure of audit, inspection, investigation information shall be subject to all applicable laws.
(c) Audit reports are to be submitted to the appropriate officials of the audited organizations, to the appropriate officials of the organizations requiring or arranging for the audits, to the Governor and the Legislature of the Virgin Islands, unless legal restrictions, ethical considerations, or other arrangements prevent it. Unless restricted by law or regulations, copies of final audit reports shall be available for public inspection and for sale to the public at a reasonable fee.
(d) Audit data and audit reports shall be kept by the Office of the V.I. Inspector General for a period of not less than five years, or until all findings have been cleared or otherwise settled to the satisfaction of the V.I. Inspector General.
(e) The V.I. Inspector General shall submit to the Governor and the Legislature once a year an annual report summarizing the activities of the Office of the V.I. Inspector General for the preceding fiscal year. Such reports shall include, but not limited to:
(1) a description of significant problems, abuses, and deficiencies relating to the Government's administration of its programs and operations disclosed by the investigative activities of the Office of the V.I. Inspector General during the reporting;
(2) a description of the recommendation for corrective action made by the Office of the V.I. Inspector General during the reporting period, with respect to the significant problems, abuses, and deficiencies identified;
(3) an identification of each significant recommendation described in previous annual reports on which corrective action has not been completed;
(4) a summary of matters referred to the Attorney General and the prosecutions and convictions that have resulted; and,
(5) a list of each audit and inspection report completed by the Office of the V.I. Inspector General during the reporting period.