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Approval of accounting system - 62 Pa. Cons. Stat. § 541

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                               SUBCHAPTER E
                            TYPES OF CONTRACTS

     Sec.
     541.  Approval of accounting system.
     542.  Multiterm contracts.
     543.  Effective contracts.
     § 541.  Approval of accounting system.
        No contract type shall be used unless it has been determined
     in writing by the head of the purchasing agency that:
            (1)  The proposed contractor's accounting system will
        permit timely development of all necessary cost data in the
        form required by the specific contract type contemplated.
            (2)  The proposed contractor's accounting system is
        adequate to allocate costs in accordance with generally
        accepted accounting principles.
     Notwithstanding the preceding, a contract may be used without a
     prior written determination where the contract is a firm, fixed-
     price contract or a contract awarded under section 516 (relating
     to emergency procurement).

        Cross References.  Section 541 is referred to in section 561
     of this title.

Last modified: November 27, 2007