Contracts shall be made with training agencies only if the training agency can demonstrate all of the following:
(a)
The training agency has a satisfactory record of past performance in the placement and retention of former trainees and employer satisfaction with former trainees.
(b)
The training agency can demonstrate labor market demand for the proposed training. Proof shall include, but not be limited to, the documented need of specific employers for the workers proposed to be trained in the skills proposed by the training agency.
(c)
The training agency can demonstrate that the training prepares trainees in a manner satisfactory to employers.
(d)
The training agency can demonstrate that its accounting systems include controls adequate to check the accuracy and reliability of accounting data, promote operating efficiency, and assure compliance with government requirements and generally accepted accounting principles. The panel shall have full access at any time to these accounting systems to assure compliance with these standards.