Auditing of Fixed Price Contracts
Gentilini, Jane 01 Sep 2000 09:21 EST
I would appreciate hearing your views on whether fixed price agreements
containing federal dollars are generally subject to fiscal audit, in
particular the allowability of expenditures regarding cost accounting
standards. By fixed price I mean agreements where payments are triggered by
the completion of tasks, deliverables, or milestones with a fixed fee
attached to each, rather than reimbursement of actual expenditures. I'm
interested in contracts you receive as well as the subcontracts you write to
your subrecipients. Any thoughts, experiences, practice vs. rules, etc. are
welcome. Thanks.
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