(a) 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.
(b) The CACO shall-
(1) 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;
(2) Keep cognizant ACO’s and auditors informed of important matters under consideration and determinations made; and
(3) Solicit their advice and participation as appropriate.