(A) The statements required by the provisions of this chapter and each of the several items required to be stated thereon shall be subject to inspection and verification by the Collector, his or her deputies or other authorized employees or agents of the city who are authorized to examine, audit and inspect the books and records of any licensee or applicant for a business license as may be necessary, in the judgment of such Collector, deputies or authorized employees and agents to verify or ascertain the amount of license tax due; provided, however, such inspection, auditing and verification shall be limited to those books and records necessary to establish the gross receipts of an applicant or licensee. A certificate executed and delivered to the city by a certified public accountant licensed by the state shall establish a rebuttable presumption that the gross receipts of such licensee are as stated in the statements required by the provisions of this chapter.
(B) All persons subject to the provisions of this chapter shall keep complete and accurate records of their business transactions, including sales, receipts and purchases and all other expenditures and shall retain all such records for examination by the Collector or his or her designated representative. The records shall be maintained for a period of at least three years. No person required to keep records pursuant to the provisions of this section shall refuse to permit the Collector or his or her authorized representatives to examine such records at reasonable times and places.
(`78 Code, § 5.02.190.)