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PGI 232.1003-70: Criteria for use.

PGI › Part 232 › PGI 232.1003-70

This PGI section supplements: DFARS 232.1003-70 · FAR 32.1003-70
The corresponding FAR Part 32 and DFARS Part 232 have been overhauled under the RFO. PGI replacement text is provided in the RFO deviation attachment. View FAR Part 32

Current Content

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.

Sources: Search on acquisition.gov · View on acq.osd.mil