PART 1342—CONTRACT ADMINISTRATION Authority:41 U.S.C. 414; 48 CFR 1.301-1.304. Source:75 FR 10570, Mar. 8, 2010, unless otherwise noted. Subpart 1342.1—Contract Audit Services 1342.102 Assignment of contract audit services. 1342.102-70 Interagency contract administration and audit services.

(a) Generally, the final invoice shall not be approved until a close-out audit has been performed and all outstanding issues have been negotiated or resolved on the following types of contracts valued at $500,000 and above:

(1) Cost-reimbursement type contracts;

(2) The cost-reimbursement portion of fixed-price contracts;

(3) Letter contracts which provide for reimbursement of costs;

(4) Time-and-materials contracts; and

(5) Labor-hour contracts.

(b) If a close-out audit is not required, an audit may be requested regardless of the contract value when the contracting officer determines that an audit is justified under one of the following circumstances:

(1) There is some evidence of fraud or waste;

(2) The contractor's performance under the contract has been questionable;

(3) The contractor had a high incidence of unallowable costs under a previous contract;

(4) The contract is with a newly-established firm, or a firm that has just begun dealing with the Government.

 Subpart 1342.2—Contract Administration Services 1342.202 Assignment of contract administration.

The designee authorized to approve delegations of CAO functions not listed in FAR 42.302 is set forth in CAM 1301.70.

 Subpart 1342.5—Postaward Orientation 1342.503 Postaward conferences. 1342.503-70 Notice of postaward conference.

Insert a provision similar to 1352.242-70, Postaward Conference, in solicitations when the contracting officer determines that a postaward conference is needed.

 Subpart 1342.6—Corporate Administrative Contracting Officer 1342.602 Assignment and location.

The designee authorized to approve the need for a corporate administrative contracting officer is set forth in CAM 1301.70.

 Subpart 1342.7—Indirect Cost Rates 1342.703 General. 1342.703-2 Certificate of indirect costs.

The designee authorized to waive the requirement for contractor certification of proposed final indirect cost rates is set forth in CAM 1301.70.