REPORT TO THE CONGRESS: Pricing Of Noncompetitive Contracts Subject To The Requirements Of The Truth-In-Negotiations Act-- A Summary Of Reports Issued In Fiscal Year 1971
United States Government Accountability Office Washington United States
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The Truth-in-Negotiations Act of 1962, Public Law 87-653, provides the Government with safeguards against payment of higher prices because of overstatements of costs used in negotiations for noncompetitive procurements. Noncompetitive contract awards by the Department of Defense DOD averaged about 23 billion annually for fiscal years 1968, 1969, and 1970. Since enactment of the law, the General Accounting Office GAO has continuously examined its administration by DOD, particularly the reasonableness of the costs proposed by contractors and accepted by the Government. The objective of these examinations is to identify the causes of any overstated estimates and to suggest corrective action.
- Administration and Management
- Economics and Cost Analysis
- Government and Political Science