S.C. Code § 11-35-2020

Current through 2024 Act No. 225.

Section 11-35-2020 - Approval of accounting system

The chief procurement officer, the head of a purchasing agency, or a designee of either officer may require that:

(1) the proposed contractor's accounting system shall permit timely development of all necessary cost data in the form required by the specific contract type contemplated;

(2) the proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.

S.C. Code § 11-35-2020

1997 Act No. 153, Section 1; 1981 Act No. 148, Section 1.