48 CFR § 42.603 - 42.603 Responsibilities.

---
identifier: "/us/cfr/t48/s42.603"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "48 CFR § 42.603 - 42.603   Responsibilities."
title_number: 48
title_name: "Federal Acquisition Regulations System"
section_number: "42.603"
section_name: "42.603   Responsibilities."
chapter_number: 1
chapter_name: "FEDERAL ACQUISITION REGULATION"
subchapter_number: "G"
subchapter_name: "CONTRACT MANAGEMENT"
part_number: "42"
part_name: "CONTRACT ADMINISTRATION AND AUDIT SERVICES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "41 U.S.C. 1121(b); 40 U.S.C. 121(c); 10 U.S.C. chapter 4 and 10 U.S.C. chapter 137 legacy provisions (see 10 U.S.C. 3016); and 51 U.S.C. 20113."
regulatory_source: "48 FR 42370, Sept. 19, 1983, unless otherwise noted."
cfr_part: "42"
---


# 42.603 42.603   Responsibilities.

(a) The CACO shall perform, on a corporate-wide basis, the contract administration functions as designated by the responsible agency. Typical CACO functions include (1) the determination of final indirect cost rates for cost-reimbursement contracts, (2) establishment of advance agreements or recommendations on corporate/home office expense allocations, and (3) administration of Cost Accounting Standards (CAS) applicable to corporate-level and corporate-directed accounting practices.

(b) The CACO shall—

(1) Fully utilize the responsible contract audit agency financial and advisory accounting services, including (i) advice regarding the acceptability of corporate-wide policies and (ii) advisory audit reports;

(2) Keep cognizant ACO's and auditors informed of important matters under consideration and determinations made; and

(3) Solicit their advice and participation as appropriate.

[48 FR 42370, Sept. 19, 1983, as amended at 63 FR 9064, Feb. 23, 1998]