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GSAM

GSAM

Change Number: Change 181 GSAM Case 2024-G505
Effective Date: 05/20/2024

542.7002 Purpose of audit.

542.7002 Purpose of audit.

The contracting officer may obtain from audits advice or recommendations on the:

(a)  Propriety of amounts paid, or to be paid, by GSA to a contractor when such amounts are based on a cost or time determination or on variable features related to the results of the contractor’s operations.

(b)  Adequacy of a contractor’s measures to safeguard Government property in its custody or under its control.

(c)  Contractor’s compliance with contractual obligations concerning progress payments, advance payments, guaranteed loans, cash return provisions, and price adjustments.

(d)  Reasonableness of a contractor’s termination settlement proposals.