B-231905: Aug 12, 1988

The General Accounting Office has no objection to a provision which would extend the period of time contractors are required to retain certain accounting records when they fail to timely submit indirect cost rate proposals. There is no objection to a provision which expands the term "records" for retention purposes to include computer input data. This is FAR Case No. 88-19. The proposal would auto...

B-231905: Published: Aug 12, 1988. Publicly Released: Aug 12, 1988.

GAO commented on a proposal to amend Federal Acquisition Regulation (FAR) 4.703 to automatically: (1) extend the period of time contractors could retain certain accounting records generated under government contracts when the contractors failed to timely submit indirect cost-rate proposals; and (2) expand the records to include specified computer input data. GAO had no objection to the proposed am...