DFARS 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.

Source: acquisition.gov — DFARS

← 232.1001 232.1004 →

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Previous part: DFARS 231 — Contract Cost Principles and Procedures Next part: DFARS 233 — Protests, Disputes, and Appeals FAR counterpart: 32 — Contract Financing

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