§42.603. Responsibilities.
48 C.F.R. § 42.603
The CACO shall perform, on a corporate-wide basis, the contract administration functions as designated by the responsible agency. Typical CACO functions include (1) the determination of final indirect cost rates for cost-reimbursement contracts, (2) establishment of advance agreements or recommendations on corporate/home office expense allocations, and (3) administration of Cost Accounting Standards (CAS) applicable to corporate-level and corporate-directed accounting practices.
The CACO shall—
Fully utilize the responsible contract audit agency financial and advisory accounting services, including (i) advice regarding the acceptability of corporate-wide policies and (ii) advisory audit reports;
Keep cognizant ACO's and auditors informed of important matters under consideration and determinations made; and
Solicit their advice and participation as appropriate.
Notes, amendments, and revision history
Amendments
[48 FR 42370, Sept. 19, 1983, as amended at 63 FR 9064, Feb. 23, 1998]
Authority
Authority: 41 U.S.C. 1121(b); 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113.
Source
Source: 48 FR 42370, Sept. 19, 1983, unless otherwise noted.
Amendments
[48 FR 42370, Sept. 19, 1983, as amended at 63 FR 9064, Feb. 23, 1998]