[Comments on Proposed Legislation Improving Federal Government Accountability for Contractor Profits Under Negotiated Contracts]

B-227256: Published: Aug 20, 1987. Publicly Released: Aug 20, 1987.

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GAO commented on proposed legislation to improve federal government accountability over contractor profits. GAO determined that: (1) reestablishment of a cost accounting board to revise and interpret cost accounting standards was desirable; and (2) reporting of contractor profitability should be a recurring requirement. GAO had no legal objections to the proposed legislation.

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