---
kind: "section"
citation: "48 C.F.R. § 232.1003-70"
title: "48"
number: "232.1003-70"
heading: "Criteria for use."
url: "https://uscodex.org/cfr/48/232.1003-70"
---

# §232.1003-70. Criteria for use.


In accordance with [10 U.S.C. 3802(c)(1)](/usc/10/3802.md?p=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)](/usc/10/3802.md?p=c-2) specifies that it does not grant the Defense Contract Audit Agency the authority to audit compliance with Generally Accepted Accounting Principles.


## Notes

### Amendments

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

### Source

Source: 63 FR 11537, Mar. 9, 1998, unless otherwise noted.

### Authority

Authority: 41 U.S.C. 1303 and 48 CFR chapter 1.

### Source

Source: 56 FR 36409, July 31, 1991, unless otherwise noted.

### Amendments

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