Difference between revisions of "Board of Director Minutes"
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| + | ==Agency Authority==<ref>10.U.S. Code §2313. Examination of records of contractor </ref> | ||
| − | [g] Defective Pricing Audits<ref>Accounting for Government Contracts: Federal Acquisition Regulation | + | [g] Defective Pricing Audits<ref>Accounting for Government Contracts: Federal Acquisition Regulation</ref> |
Contractors are required to submit cost or pricing data if a contract (or a contract modification) exceeds $2M. Audits to detect defective pricing are performed to assess the validity of the contractor's cost or pricing data. When such audits are conducted, a number of approaches are used to uncover incomplete or outdated cost or pricing data. These include: | Contractors are required to submit cost or pricing data if a contract (or a contract modification) exceeds $2M. Audits to detect defective pricing are performed to assess the validity of the contractor's cost or pricing data. When such audits are conducted, a number of approaches are used to uncover incomplete or outdated cost or pricing data. These include: | ||
Revision as of 15:25, 13 September 2019
==Agency Authority==[1]
[g] Defective Pricing Audits[2]
Contractors are required to submit cost or pricing data if a contract (or a contract modification) exceeds $2M. Audits to detect defective pricing are performed to assess the validity of the contractor's cost or pricing data. When such audits are conducted, a number of approaches are used to uncover incomplete or outdated cost or pricing data. These include:
(1) reviewing minutes of board of directors meetings or correspondence concerning capital expenditures; (2) reviewing contractor newsletters announcing new or improved manufacturing processes or the purchase of new machinery that will reduce production costs.
Related Topics/Links
Corporate Family[3] Corporations and disclosures go beyond the legal entity holding the contract. Algese 2 SCARL v. United States, No. 15-1279C (Fed. Cl. March 14, 2016),
