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                            42.603 Responsibilities.
        
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FAC Number: 2024-03 Effective Date: 02/23/2024
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Subpart42.042.142.242.342.442.542.642.742.842.942.1142.1242.1342.1542.1642.17
Section42.60142.60242.603
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42.603 Responsibilities.42.603 Responsibilities.       (a) 						            The CACO shall perform, on a corporate-wide basis, the contract administration functions as designated by the responsible agency. Typical CACO functions include-                                                         (1) 								                The determination of final indirect cost rates for cost-reimbursement contracts;                                                            (2) 								                Establishment of advance agreements or recommendations on corporate/ home office expense allocations; and                                                            (3) 								                Administration of Cost Accounting Standards (CAS) applicable to corporate-level and corporate-directed accounting practices.                                                                             (b) 						            The CACO shall-                                                         (1) 								                Fully utilize the responsible contract audit agency financial and advisory accounting services, including-                                                                           (i) 										                    Advice regarding the acceptability of corporate-wide policies; and                                                                              (ii) 										                    Advisory audit reports;                                                                                                           (2) 								                Keep cognizant ACO’s and auditors informed of important matters under consideration and determinations made; and                                                            (3) 								                Solicit their advice and participation as appropriate.    **Parent topic:**  Subpart 42.6 - Corporate Administrative Contracting Officer
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