542.7002 Purpose of audit.
The contracting officer may obtain from audits advice or recommendations on the:
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(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.
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(b) Adequacy of a contractor’s measures to safeguard Government property in its custody or under its control.
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(c) Contractor’s compliance with contractual obligations concerning progress payments, advance payments, guaranteed loans, cash return provisions, and price adjustments.
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(d) Reasonableness of a contractor’s termination settlement proposals.