Project records for each project developed through the use of freight mobility funding shall be audited to determine that the amount of freight mobility funds paid in connection with the project can be attributed to the project and supported by project records. The audit shall determine whether the lead agency has materially complied with the rules of the board and whether any failures to comply are significant in nature or effect. The board shall audit projects at the time of the project completion or at such additional times as may be directed by the board.