D.C. Mun. Regs. r. 19-2820

Current through Register Vol. 71, No. 24, June 14, 2024

Rule 19-2820 - AUDITS

2820.1

At reasonable times and places, the Board may audit the books and records of any contractor, subcontractor, prospective contractor, or prospective subcontractor which are related to any contract with the Board when one of the following circumstances exist:

(a) A question as to the adequacy of accounting policies or cost systems;

(b) A substantial change in the methods or levels of operation;

(c) Previous unfavorable experience indicating doubtful reliability of estimating, accounting, or purchasing methods;

(d) A lack of cost experience due to the procurement of a new supply or service; or

(e) Other evidence that an audit is in the Board's best interest as determined by the CCO.

2820.2

Where the CCO requires an audit of a Board contractor, the Board shall procure the services of an independent certified public accounting ("CPA") firm to perform an audit or audit review.

EDITOR'S NOTE: The following editorial correction was made to the text of the final rulemaking: "accounting" was substituted for the word "account".

2820.3

The audit or audit review shall be conducted in accordance with generally accepted accounting principles, and include such tests as are necessary to render a CPA firm's opinion on the fairness of the contractor's financial presentation.

D.C. Mun. Regs. r. 19-2820

Final Rulemaking published at 37 DCR 4081, 4104-05 (June 22, 1990)

The following editorial correction was made to the text of the final rulemaking: Saccounting was substituted for the word Saccount.