[Code of Federal Regulations]
[Title 32, Volume 1]
[Revised as of January 1, 2008]
From the U.S. Government Printing Office via GPO Access
[CITE: 32CFR37.640]

[Page 217]
 
                       TITLE 32--NATIONAL DEFENSE
 
              CHAPTER I--OFFICE OF THE SECRETARY OF DEFENSE
 
PART 37_TECHNOLOGY INVESTMENT AGREEMENTS--Table of Contents
 
 Subpart F_Award Terms Affecting Participants' Financial, Property, and 
                           Purchasing Systems
 
Sec.  37.640  Must I include a provision for audits of for-profit participants?

    If your TIA is an expenditure-based award, you must include in it an 
audit provision that addresses, for each for-profit participant:
    (a) Whether the for-profit participant must have periodic audits, in 
addition to any award-specific audits, as described in Sec.  37.645. 
Note that the DCAA or the Office of the Inspector General, DoD (OIG, 
DoD), can provide advice on the types and scope of audits that may be 
needed in various circumstances.
    (b) Whether the DCAA or an independent public accountant (IPA) will 
perform required audits, as discussed in Sec.  37.650.
    (c) How frequently any periodic audits are to be performed, 
addressed in Sec.  37.655.
    (d) Other matters described in Sec.  37.660, such as audit coverage, 
allowability of audit costs, auditing standards, and remedies for 
noncompliance.