48 C.F.R. §§ 232.1003-70

Current through November 30, 2024

Section 232.1003-70 - Criteria for use

In accordance with 10 U.S.C. 3802(c)(1) , a contractor's financial statements shall be in compliance with Generally Accepted Accounting Principles in order to receive performance-based payments. 10 U.S.C. 3802(c)(2) specifies that it does not grant the Defense Contract Audit Agency the authority to audit compliance with Generally Accepted Accounting Principles.

48 C.F.R. §§232.1003-70

85 FR 19688 , Apr. 8, 2020, as amended at 87 FR 76995 , Dec. 16, 2022

85 FR 19688 , 4/8/2020; as amended at 87 FR 76995 , 12/16/2022