Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 48 - Federal Acquisition Regulations System |
Chapter 1 - Federal Acquisition Regulation |
SubChapter G - Contract Management |
Part 42 - Contract Administration and Audit Services |
Subpart 42.6 - Corporate Administrative Contracting Officer |
§ 42.603 - Responsibilities.
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42.603 Responsibilities.
(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.
[48 FR 42370, Sept. 19, 1983, as amended at 63 FR 9064, Feb. 23, 1998]