48 CFR § 232.1003-70

48 CFR · Federal Acquisition Regulations System

§ 232.1003-70 — Criteria for use.

eCFR · current through Jul 8, 2026

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.

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

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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.

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

48 C.F.R. § 232.1003-70 (Criteria for use.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.