[Code of Federal Regulations]

[Title 48, Volume 7]

[Revised as of October 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 48CFR9903.303]



[Page 350]

 

            TITLE 48--FEDERAL ACQUISITION REGULATIONS SYSTEM

 

     CHAPTER 99--COST ACCOUNTING STANDARDS BOARD, OFFICE OF FEDERAL 

           PROCUREMENT POLICY, OFFICE OF MANAGEMENT AND BUDGET

 

PART 9903_CONTRACT COVERAGE--Table of Contents

 

                Subpart 9903.3_CAS Rules and Regulations

 

Sec. 9903.303  Effect of filing Disclosure Statement.



    (a) A disclosure of a cost accounting practice by a contractor does 

not determine the allowability of particular items of cost. Irrespective 

of the practices disclosed by a contractor, the question of whether or 

not, or the extent to which, a specific element of cost is allowed under 

a contract remains for consideration in each specific instance. 

Contractors are cautioned that the determination of the allowability of 

cost items will remain a responsibility of the contracting officers 

pursuant to the provisions of the applicable procurement regulations.

    (b) The individual Disclosure Statement may be used in audits of 

contracts or in negotiation of prices leading to contracts. The 

authority of the audit agencies and the contracting officers is in no 

way abrogated by the material presented by the contractor in his 

Disclosure Statement. Contractors are cautioned that their disclosures 

must be complete and accurate; the practices disclosed may have a 

significant impact on ways in which contractors will be required to 

comply with Cost Accounting Standards.