Section 3-141-202 - Rejection for inadequate accounting system(a) A purchasing agency may reject any proposal or quotation submitted to it if, in light of all the circumstances, the purchasing agency deems that the applicant's accounting system is inadequate for keeping the procurement and financial records required by the purchasing agency or the state procurement office.(b) Requirements for accounting systems. The requirements for an adequate accounting system may include, but are not limited to: (1) The ability to keep accurately all the procurement and financial records required by law, the purchasing agency, or the state procurement office;(2) The ability to permit timely development of all necessary cost data in the form required by the specific contract type contemplated;(3) Compliance with generally accepted accounting principles.(c) Procedure for rejection. Any rejection made under this section shall be made in writing, and shall include a concise statement of the reasons justifying the rejection.[Eff 6/19/99; comp JAN 23 2006] (Auth: HRS §§ 103F-106, 103F-407) (Imp: HRS § 103F-407)