; (B) to prevent waste, fraud, and abuse; and (C) to ensure that the States receiving block grants under this section use accounting, audit, and fiscal procedures that conform to generally accepted accounting standards. (3) State report Not less frequently than every 2 years, each State administering a State loan fund under this section shall submit to the EPA Administrator a report describing the activities carried out under this section, including the findings of the most recent audit of the State loan fund and the entire State allotment. (4) Audits The EPA Administrator shall periodically audit all State loan funds established by, and all other amounts allotted to, the States in accordance with procedures established by the Comptroller General of the United States. (g) Applicability of Federal law (1) In general The EPA Administrator shall ensure that all laborers and mechanics employed on projects funded directly, or assisted in whole or in part, by a State loan fund established by this section shall be paid wages at rates not less than those prevailing on projects of a character similar in the locality as determined by the Secretary of Labor in accordance with subchapter IV of chapter 31 of part A of subtitle II of title 40, United States Code. (2) Authority With respect to the labor standards specified in paragraph (1), the Secretary of Labor shall have the authority and functions set forth in Reorganization Plan Numbered 14 of 1950 (64 Stat. 1267